
Musings mostly about management research, but also about things that interest me—such as economics, (political) philosophy, and higher education.
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Harold Demsetz’s 1988 paper, “The Theory of the Firm Revisited,” occupies an unusual position in the modern theory of the firm. Because the paper explicitly engages transaction cost theory, agency theory, and the Alchian-Demsetz literature...
The question sounds odd because modern academia has become so accustomed to treating research and doctoral education as inseparable. Research universities conduct research and therefore train researchers. The proposition appears almost self...
For a long time, the dominant image of entrepreneurship in management research was the startup founder: the outsider challenging incumbents from a garage, a laboratory, or a small venture-backed office. Large corporations, by contrast, were...
One of the pleasures of writing publicly is that thoughtful readers often improve one’s own thinking. That certainly happened after my recent post on artificial intelligence and the theory of the firm https://nicolaijfoss.substack.com/p/ai-...
The return of an old question
Artificial intelligence has revived a classic question in economics: why do firms exist at all? If AI dramatically lowers the costs of communication, coordination, and information processing, shouldn’t we expe...
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The writers behind this newsletter.
Nicolai J. Foss is a Danish Professor of Strategy at the Copenhagen Business School. He is also affiliated with the Norwegian School of Economics and the HKPolyU. https://scholar.google.com/citations?user=b9O5m-cAAAAJ&hl=en
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