economic organization

In this report, we summarize an Austrian method to economic organization based on the entrepreneur and the Austrian concept of capital as heterogeneous and time-dimensioned, tow themes connected with Israel Kirzner's contributions. A novel interpretation of capital heterogeneity depending on the notion of attributes is provided... Attributes are costly to quantify ...

This explorative report proposes that the main problem of economic organization is adaptation to unforeseen contingencies. Nevertheless, flexibility is a fairly ignored issue in the theory of economic organization. This contrasts with much organization theory, where the seeking and processing of information about the organization's key uncertainties is viewed as ...

The thought of heterogeneous capital has a long and prominent place in Austrian economics. The development of Austrian capital theory has been marked by the struggle to develop consistent analytical categories and aggregate measures for a class of goods which are basically heterogeneous.... Generally, Austrian writers have moved away from relatively ...

This paper addresses the impact of distributed knowledge on economic organization. The claim that authority is inefficient as a means of coordination in the context of distributed knowledge has become widespread. However, very little analysis has been dedicated to the relation between economic organization and distributed knowledge. This paper concentrates on ...