Author Archive

SMS Special Conference on Microfoundations

| Nicolai Foss |

So, with Torben Pedersen, Bocconi University, I am arranging a Strategic Management Society “Special Conference” (so-called) on “Microfoundations in Strategic Management Research: Embracing Individuals” next year in Copenhagen. Specifically, the conference takes place from the 13. to the 15. of June at the Copenhagen Business School. (The DRUID conference starts on June 16).  Pretty good lineup, I dare say, with keynotes by Ron Burt, Richard Rumelt and Ernst Fehr and several luminaries in the panels.

Here is a little presentation video on the conference. Here is the conference site.

The deadline for paper proposals (5 pp + 2 pp refs) is December 5. Submit a proposal! 

12 November 2013 at 12:14 pm Leave a comment

Top Ranked Thinkers 2013

| Nicolai Foss |

In management, that is. Here. Hardly surprising that Clay Christensen is #1. But … where is Klein?

12 November 2013 at 12:08 pm 3 comments

New Paper on Austrian Capital Theory

| Nicolai Foss |

In my Hayek Lecture at last year’s Austrian Economics Scholars Conference I argued that Austrian capital theory is deserving of a comeback as an absolute integral part of Austrian economics. I argued that ACT directs attention to the essential importance of heterogeneity and I argued that notions of capital heterogeneity serves to bring the entrepreneur, transaction costs and institutions directly into our understanding of the growth process.

An essential part of ACT is, of course, the work of Eugen von Böhm-Bawerk. On the one hand, Böhm’s work is absolutely seminal, on the other hand, its too strong emphasis on aggregates and simplifying assumptions arguably side-tracked the development of ACT in some key ways. Needless to say, to mainstream economists ACT is Böhm-Bawerkian capital theory because it lends itself to formalization.

A recent example of formalizing Böhm’s theory is Renaud Fillieule’s “A comprehensive graphical exposition of the macroeconomic theory of Böhm-Bawerk.” Fillieule makes a strong case for Böhm’s theory as a precursor of Solowian growth theory and of macroeconomics in general. In contrast to many other commentators on ACT, he is familiar with modern Austrian work on the subject. A very elegant article and most definitely worth a read. Here is the abstract:

This paper offers a comprehensive graphical exposition of Böhm-Bawerk’s formalised macroeconomic theory. This graphical model is used here for the first time to study the effects of the changes in the explanatory variables (quantity of capital, number of workers and level of technical knowledge) on the dependent variables (interest rate, wage and period of production). This systematic application of the model shows that some of the conclusions drawn by Böhm-Bawerk are incorrect and need to be amended. A comparison with Solow’s model also shows that Böhm-Bawerk can legitimately be considered as one of the main originators of the standard contemporary approach in macroeconomics of equilibrium and growth.

4 October 2013 at 4:40 am 3 comments

New Member of the Academy of … Family

| Nicolai Foss |

So, we have the Academy of Management Review and the Academy of Management Journal, commonly acknowledged as the top theory and empirical management journal, respectively. We are also blessed with the Academy of Management Perspective (formerly, the Academy of Management Executive), which seeks (successfully) to style itself as the management research equivalent to the Journal of Economic Perspectives. Then there is also the Academy of Management Learning and Education and there is the rather recently established Academy of Management Annals.

The sixth member of the family is now being launched, and has assumed the name of the Academy of Management Discoveries.  The founding editor is Andrew H. Van de Ven  who is the Vernon H. Heath Professor of Organizational Innovation and Change in the Carlson School of Management of the University of Minnesota, a major figure in organization theory over the last 4 decades, and a former President of the Academy of Management. According to the journal’s website, AMD will”promote the creation and dissemination of new empirical evidence that strengthens our understanding of substantively important yet poorly understood phenomena concerning management and organizations.” The journal is “phenomenon-driven” rather than aimed at theory testing per se.

In the end, I am not entirely convinced that this is that different from the mission and practice of the Academy of Management Journal, and I can see a scenario where we get an AMJ #2.  However, the journal is open to replication research and “evidence-based assessments”, and certainly the first characteristic would seem to set it apart from the AMJ (even if replication research and evidence-based assessments would seem to pull away from phenomenon-driven discovery and towards theory testing).

Here is a brief YouTube clip with Van de Ven talking about the kind of research that the AMD will publish.

Manuscripts can be submitted here.

21 September 2013 at 11:46 am 3 comments

Reflections on the Explanation of Heterogeneous Firm Capability

| Nicolai Foss |

Fritz Machlup famously argued that economists should not care about the specificities (e.g., internal organization) of individual firms, as this was unlikely to bring substantial additional insight in the market outcomes that were the real objects of interests for economists (here). Thus, for the purposes of price theory, firms within an industry could essentially be taken to be homogenous. Machlup’s view has been reflected in much of the micro-economics of the firm, not just in the standard Marshallian approach, but also in later contract theoretic and transaction cost approaches. While contract theory and transaction cost insights are surely capable of contributing to the understanding of firm heterogeneity, explaining such heterogeneity per se has never been a central explanatory task of these approaches. However, while the Machlup view was still holding sway among economists (well into the 1990s), dissenting economists and management scholars highlighted that heterogeneity among firms could be understood in terms of differential capability—an idea that helped them to explain firm boundaries (see much of the work of O&M blogger Richard Langlois), competitive heterogeneity in a population of firms (evolutionary economics), and competitive advantage (the resource-based view in strategy.

However, while management research has done much to advance the notion of intra-industry heterogeneity, it may have been less forthcoming with respect to theorizing the antecedents of such heterogeneity. Most work on such antecedents has highlighted cognitive a variables, such as managerial cognition and absorptive capacity, and variables related to skill levels and the efficiency of routines. Surprisingly, virtually no work in management research has linked differential capability to organizational design (e.g., the structures of communication, delegation, and incentives) or even to the human capital characteristics of firms’ workforces. (more…)

17 September 2013 at 9:17 am 1 comment

Varia on Impact Factors, Journals, Publishing …

| Nicolai Foss |

  • Here is an interesting popular piece from The Atlantic about, among other things, a Brazilian citation cartel.
  • Yes, replication papers are publishable in social science journals; check out this post.
  • We have Management Science, Marketing Science, Organization Science … Now we will also have Sociological Science.
  • Very interesting piece on harmful, unintended consequences of journal rankings, such as more misconduct, more retractions, less reliable research, and so on.

17 September 2013 at 8:46 am 1 comment

Twenty Years of IJEB

| Nicolai Foss |

“IJEB” is the International Journal of the Economics of Business. The inaugural issue contained a veritable who-is-who in the management/economics intersection, and the journal has published much good stuff over the years (including papers by Peter Klein and yours truly, as well as lesser known people like Reinhart Selten, Richard Nelson, and Frederick Scherer). To mark the journal’s first twenty years, twenty of the more influential papers have been made available for free online (here), and the first issue of 2014 will be like the inaugural issue in that it will be composed of many short papers on the directions that the economics of business is going to take in the future.

16 September 2013 at 1:33 pm Leave a comment

Post AoM: Are Management Types Too Spoiled?

| Nicolai Foss |

So, this year’s version of the Academy of Management Meetings, the major association of management researchers, took place in Orlando, Fl. The conference theme was “Capitalism in Question,” a theme with decidedly “lefty” connotations (see the official description of the theme here).  The politization of the event was discussed in a Business Week blog that was dripping with irony. 

Strikingly, however, I heard relatively few complain about the politization of the Academy implied by the theme (at least one very prominent scholar, however, erased “Capitalism in Question” from his badge, and so did I), but I heard lots of moaning, whining, and bickering about the location itself. In fact, I have never heard anything like it.  So, there were complaints about the lack of decent restaurants, there not being enough coffee outlets, too many queques, sub-standard hotels, annoying American families, comments about Americans in general that, had the same thing been said about Europeans would …well … , and so on and so forth.  Here is a pretty pathetic blog on the subject. And here is a lame and self-righteous letter to “Dear Minnie.”

Yes, Disney World may perhaps clash with the refined and elevated tastes of many a management professor (I didn’t myself particularly fancy those plastic baroque carpes (aka “dolphins”)), but, hey, this is a conference. You are supposed to be at work. To be sure, the Academy of Management is about hand-shaking and meeting friends, and building and maintaining networks are obviously productive input in any academic’s work process. And yet, 99% of the participants had their travel and stay and fee paid for by someone else (in many cases, the taxpayers). The sessions, PDWs, symposia, and so on were no worse than usual. No one presumably had to go hungry to bed. It was certainly possible to get the beers you wanted. The receptions were well-attended, noisy and alcoholic. In short, pretty much business as usual. So, perhaps it is time to cut the whining which fundamentally signals that you think of the AoM meetings as mainly about your own on-the-job consumption.  It would have been much better to use energy spent on whining about diminished the consumption potential of Orlando on  critique of the conference theme.

17 August 2013 at 10:11 am 17 comments

Microfoundations Conference in Copenhagen, June 13-15, 2014

| Nicolai Foss |

Since the arguably first use of the “microfoundations” terminology in the context of macro management research in a 2005 Strategic Organization essay by Teppo Felin and me, the “microfoundations project” has gained considerable attention. Most recently, the Academy of Management Perspectives has featured a symposium on the subject with contributions from Sid Winter, Henrich Greve, Sid Winter, Andrew van de Ven, Jay Barney and Teppo, and Siegwart Lindenberg and me.  One notable development is that positions have converged somewhat; notably, earlier outspoken critics, such as Winter, now see merit in the project. Another notable development is that the whole thing is moving from the admittedly preachy phase towards more of a “doing” phase.

An indication of not only the influence but also the  acceptance of the project is that the Strategic Management Society now sponsors a “special conference” (so-called) in Copenhagen (specifically, at the Copenhagen Business School) on the subject of “Microfoundations for Strategic Management Research: Embracing Individuals.” FB page here.  A full program should be up soon, but let me anticipate this a bit by noting that we have a fabulous line-up with keynotes by Richard Rumelt, one of our field’s most important thought-leaders; Europe’s perhaps most currently influential economist, Ernst Fehr; and sociology heavy-weight Ron Burt. In addition we will have a debate on microfoundations between Teppo Felin, Russ Coff, Michael Jacobides and Rodolphe Durand; a panel on foresight with Giovanni Gavetti, Sid Winter and Dan Lovallo, and much other juice stuff!  

Paper proposals (5-7 pages) are due no later than December 5. (Check the conference site for instructions in a week or two).  Hope to see you in Copenhagen next year!

17 August 2013 at 9:41 am 3 comments

Jackson Nickerson at SMG

| Nicolai Foss |

When I was a graduate student 20-25 years ago I remember transaction cost economics being routinely mocked by all and sundry for “being static,” “neglecting learning,” and “not saying anything about innovation and entrepreneurs,” in addition, of course, to the usual charges of working with an impoverished and overly cynical view of human nature.

While TCE still highlights opportunism as a key assumption, it is fair to say that over the last decade important work has brought dynamics, learning and innovation within the orbit of TCE. This has mainly been brought about by a coterie — some of which are former students of Oliver Williamson — such as Nicholas Argyres, Kyle Mayer, Todd Zenger, Steve Michael, O&M’s Peter Klein, and last, but certainly not least, Jackson Nickerson.

Jackson is the author of a large number of truly innovative papers in management research and economics, many of which have a TCE bent. Thus, with Todd Zenger he has done important work on envy (and other aspects of social comparison processes) as an antecedent of internal transaction costs, on why firms seem to switch between extremes in their organizational forms, and, again with Zenger, he has pioneered a “problem-solving approach” to economic organization.

My department will feature this extremely original thinker as a speaker in our seminar series on Friday (here). Jackson will present a novel take on the dominant design stream of thinking about industry evolution, building on the US auto industry data base that (his co-authors) Lyda Bigelow and Nick Argyres have successfully exploited in earlier publications. Will be exciting!!

14 May 2013 at 11:39 am 1 comment

Bob Wouldn’t Like It, but ….

| Nicolai Foss |

So, my school is now deep into discussing the results of the recent “employee satisfaction survey.” Thus, each department is expected to spend minimum 2,5 hours discussing the results, and to come up with an action plan to handle those problems that — per definition — exist. And in my capacity as department head I have just ended this round of annual reviews which focus on the “competence development” of faculty. The practice of management has changed, to be sure.  An approach that is decidedly not acceptable anymore, at least in my part of the world, is exemplified by this great drummer chewing out the band he led  (more here; here is the mandatory Hitler version; and, in case you really want to practice, here are the transcriptions). Bob Sutton wouldn’t like it.And yet, badass approaches to management may work — perhaps not for those autonomously motivated, self-directed types (i.e., us), but certainly for those with motivational issues (see Emily Bazelon’s Slate piece on Rutgers coach Mike Rice). Toughness has costs and benefits. It seems that much current management thinking focuses on the costs of tough management approaches and neglects the potential benefits. No?

8 April 2013 at 1:37 pm 2 comments

Klein Fan Page on Facebook

| Nicolai Foss |

Our Moral Leader at O&M has his own fan page on Facebook.  He mixes entertaining libertarian outbursts with info on new conferences and links to cool new papers, articles, and so on–in other words, O&M en miniature. Pay a visit and like Peter’s page.

30 March 2013 at 12:39 pm Leave a comment

Behavioral Agency Theory

| Nicolai Foss |

Kathleen Eisenhardt’s 1989 Academy of Management Review paper is likely still the first, but hopefully not the last, exposure many management scholars have to agency theory. The paper is somewhat imprecise, and it shows its age, but as an introduction to the theory, one can do worse. However, much has in fact happened in agency theory since 1989 in terms of extensions and refinements of the theory, and also in terms of critical reactions, some of which have been partly aligned with the theory.

In particular, (some) economists and (more) management scholars (e.g., Wiseman and Gomez-Mejia) have tried to bring behavioral perspectives into agency theory. In a new paper (forthcoming in the Journal of Management), Alexander Pepper of the LSE and Julie Gore of the University of Surrey provide a useful overview of “behavioral agency theory,” somewhat in the style of Eisenhardt’s earlier review (i.e., with propositions that summarize the earlier literature). They include, for example, prospect theory, work on inequity aversion and even self-determination theory under the behavioral hat, and thus bring both cognitive and motivational issues into the orbit of behavioral agency theory.

A few mildly critical comments.

  • There is no claim in the paper that the various behavioral ideas are consistent and “add up,” but this is something that should perhaps have been discussed. Standard theory may make extreme assumptions but it is a highly consistent and neat theory. In contrast, behavioral agency theory is a bouillabaise of very different ingredients that are linked to the standard theory in a somewhat ad hoc manner.
  • The authors position and motivate the paper in terms of gaining more insight into executive compensation, but of course the scope of behavioral agency theory is much broader.
  • The authors, like Eisenhardt, repeats Michael Jensen’s distinction between “positive agency theory” and “principal-agent theory,” which makes as little sense today as it did in 1983 ;-)

Still, Pepper and Gore’s paper is definitely worth a read and I highly recommend it.

28 November 2012 at 9:12 am 1 comment

Miscellaneous

| Nicolai Foss |

A few interesting links, Tyler-style:

27 November 2012 at 3:03 pm Leave a comment

Pomo Periscope XXIV: Sartre on Ownership

| Nicolai Foss |

Proto-pomo Jean-Paul Sartre was a certified commie. I was therefore baffled to read about Sarte’s views on ownership (here). In Being and Nothingness Sarte argues that “to have” is one of the three fundamental categories of human existence (along with “to do” and “to be”), and notes that the “totality of my possesions reflects the totality of my being … I am what I have … what is mine is myself.” More broadly, there is a highly interesting literature on “psychological ownership,” informed mainly by philosophy and psychology, but with interesting linkages to evolutionary anthropology. The “endowment effect” in behavioral economics may be seen as part of this. Although the main applications of psychological ownership theory so far seems to have been to organizational behavior (e.g., this paper), there seem to me to be potentially interesting applications to the political philosophy, particularly for those who find the Lockean theory of ownership a bit lacking in the psychological dimension.

26 November 2012 at 2:37 am 2 comments

A Naturalistic Foundation for the Hierarchy?

| Nicolai Foss |

In economics, the hierarchical firm arises for reasons related to economizing with transaction costs, managerial attention allocation, information synthesis and what not. Many organizational economists would argue that absent transaction costs, there would be no hierarchies as there would be no firms. But, what if the existence of hierarchy has a partly genetic basis, that is, humans evolved in such a way that they have come to “like” hierarchies (which may therefore exist even if transaction costs were zero)?  After all, those small hunting bands roaming the African savannahs 30, 000 years ago likely had leaders, a division of labor and so on, and evolutionary anthropology suggests that our brains evolved to handle the intricacies of handling this division of labor. Thus, we may be “hardwired for hierarchy.”

OK, speculation to be sure, but in “The Fluency of the Social Hierarchy: The Ease With Which Hierarchical Relationships Are Seen, Remembered, Learned, and Liked,” recently published in the prestigious Journal of Personality and Social Psychology, Emily Zitek and Larissa Tiedens provide some potentially supportive evidence: In five studies, they show that hierarchies are perceived, understood, remembered and learner faster and more efficiently than other kinds of social relationships. 

There may be many reasons for this finding, but one is the simple one that hierarchical superiors have potentially strong influence on our lives.  Very apropos, another recent study, “The hierarchical face: higher rankings lead to less cooperative looks,” by four UMichigan psychologists, finds that the “higher ranked an individual’s group is, the less cooperative the facial expression of that person is judged to be.” Interestingly, one of their settings is interaction with deans!

Abstracts below. (more…)

25 November 2012 at 4:50 am 3 comments

More on Performance Pay and Motivation Crowding Out

| Nicolai Foss |

Observing  how economists relate to psychology is interesting. On the one hand, there is considerable fascination:  Social psychology research often produces interesting findings about human interaction, and motivational and cognitive psychology yields insight in human behavior and decision-making which is more fine grained than most econ research. On the other hand, there is an often ill-tempered dismissal, too often based on an incomplete understanding of the relevant material, of any psychology findings that may be seen as going against the standard economics model of rationality. “This is entirely consistent with maximization once you take all constraints into consideration,” “This is just another instance of altruistic preferences”, etc. etc. are conventional defensive stratagems that are entirely understandable given the metaphysical status of the standard model in economics.

An area where many economists, at least as seen from my perspective as an outsider, seems to have given in concerns so-called “motivation crowding.”  This is  the idea that “extrinsic motivators” (such as performance pay) can crowd-out out “intrinsic motivation,” the kind of inner  motivation that, many motivational psychologists argue, is the most suitable one for tasks involving creativity, problem-solving and learning. Since this effect was first imported (from self-determination theory in motivational psychology) into economics in the mid-1990s by, first, Bruno Frey, and then David Kreps, it has been rather generally acknowledged by many organizational economists, personnel economists and labor economists as a real and worrying phenomenon. “Worrying” because it suggests that conventional incentive instruments may be counter-productive.

A recent paper by Meiyu Fang and Barry Gerhart (2012), “Does Pay for Performance Diminish Intrinsic Interest?” suggests that economists should perhaps think twice before they embrace the crowding effect, at least in the context of real world organizations.The authors question random assignment experiments on the grounds that in organizations assignment is anything but random. But perhaps more substantively they argue that “perceived competence” and “perceived autonomy” (key constructs in self-determination theory) are positively related to pay for individual performance, rather than negatively as the crowding effect would posit. For example, being exposed to performance-contingent rewards may drive feelings of control and autonomy (“I decide myself how much I wanna make here”, “If I deliver, the Man has to pay” etc.).  These ideas are tested on data from a survey of 609 white collar Taiwanese employees, and largely confirmed. A fascinating and recommended read.

24 November 2012 at 6:00 am 1 comment

Mark Casson Conference

| Nicolai Foss |

Mark Casson is one of the most influential scholars in the international business and entrepreneurship fields. He is also living proof that huge influence can be won and held, not by regularly cranking out papers in the “A journals,” but by writing solid monographs. Although Casson has certainly written his share of high-level papers, he is arguably best known for two books, namely his slim 1976 monograph with Peter Buckley, The Future of the Multinational Enterprise, and his 1982 (single-authored) book, The Entrepreneur: an Economic Theory. While the former is one of the founding contributions to the theory of the multinational corporation (some say, the founding contribution), the latter was, at the time it was published, the perhaps most sophisticated economics-based treatment of entrepreneurship theory. I reread it about a year ago, and was struck by how up-to-date and fresh it still is. (Here is a brief popular statement of Casson’s views on entrepreneurship).

Professor Andrew Godley of the Henley Business School has put together an exciting conference (15-16. Dec., University of Reading) to celebrate the thirtieth anniversary of Casson’s book. The program includes luminaries such as Mike Wright, Saras Sarasvathy, Ram Mudambi and my former PhD student and colleague, Jacob Lyngsie.  Unfortunately, I am not able to participate myself, but the conference should be of interest to the O&M readership. Here is the program.

23 November 2012 at 12:07 pm Leave a comment

Pet Peeve: “Normative Theory”

| Nicolai Foss |

I have seldom attended a meeting or conference on management research where the notion of “normative theory” hasn’t been brought up. A couple of decades ago when transaction cost economics was making its influence felt in management research, it was frequently dismissed as “just another normative contingency theory.” Discussants may quiz presenters on whether they are “doing positive or normative theory,” and gravely tell them that they must heed the difference between the two.

While I am all for being upfront about one’s (normative) premises, I am not sure the notion of “normative theory” makes a lot of sense. (There is ethical theory which may be partly falsifiable, but this is usually not what is meant by “normative theory”). There are theoretically informed statements about what ought to be the case — but these are simply derived from positive theories with the addition of an “ought” clause. To be sure, one can build theory that is designed to help remedy some state in the real world that one considers undesirable. Theorizing (i.e., the construction of theory) is, of course, shot through with normative considerations, as Gunnar Myrdal famously argued. But, that doesn’t make the theory a “normative theory” per se. A theory can be (should be) 100% wertfrei although its emergence is entirely explainable in terms of moral, political, etc. considerations.

Theory can be (should be?) used as an instrument, to be sure. Thus, the proponent of a theory may tell decision-makers that if they want to achieve X, they should do Y. That is still not “normative theory,” because the proponent doesn’t tell decision-makers that X is something they ought to pursue. Fairly simple stuff, to be sure. But, many management scholars apparently haven’t fully absorbed the basic implications of what Hume, Menger, and Weber said on these issues. And in today’s method-obsessed graduate programs, they likely won’t.

22 November 2012 at 3:04 am 7 comments

Micro-foundations All Over the Place …

| Nicolai Foss |

In a SOapBox Essay in 2005, Teppo Felin and I called for “micro-foundations” for macro management theory, specifically the dominant routines and capabilities (etc.) stream in strategic management. (check Teppo’s site for the paper, commentaries by Jay Barney and Bruce Kogut, and various other Felin & Foss papers on the subject).  We thought our argument was fairly simple, not really that novel (economists have been talking about micro-foundations for decades), and “obviously true.” Yet, the argument was apparently provocative (or, perhaps more correctly, our formulation of it was…), and it met with considerable hostility. For example, the DRUID 2008 conference in Copenhagen featured a panel on micro-foundations with opposing sides represented by Sidney Winter and Thorbjørn Knudsen, and Peter Abell and yours truly, respectively. I remember seeing several (extremely) prominent management scholars shaking their heads in disbelief about the folly of micro-foundations. (The debate, though not the head-shaking, can be accessed through the DRUID site).

And yet, 7 years later the micro-foundations project appears to have met with general acceptance, although it is sometimes referred to as the “Foss Fuss,” by at least one very prominent contributor to our field. In fact, some of the head-shaking persons from DRUID 2008 now themselves talk about micro-foundations. Both Sid Winter and Thorbjørn Knudsen (not headshakers) now embrace micro-foundations–albeit of the “right” kind (e.g., behavioralist and  informed by neuroscience and experiments). Papers in leading journals have “micro-foundations” in the title.  Specific examples: :

  • The Journal of Management Studies just published a special issue on “Micro-origins of Routines and Capabilities,” edited by Teppo, me, Koen Heimeriks, and Tammy Madsen, and featuring contributions by various luminaries.
  • The European Management Review’s December issue (not yet online) will feature a transcribed exchange between Sid Winter, me and Maurizio Zollo on micro-foundations.
  • A leading association in our field will adopt “micro-foundations” as the theme of one its conferences (to be held in 2014). Details to be disclosed (soon).

Micro-foundations are “everywhere.” List der Vernunft, I reckon.

UPDATE: The Academy of Management Perspectives will feature a paper symposium next year on micro-foundations. Contributors: Jay Barney, Teppo Felin, Henrich Greve, Siegwart Lindenberg, Andrew van de Ven, Sid Winter, and me.

20 November 2012 at 6:10 am 4 comments

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Nicolai J. Foss and Peter G. Klein, Organizing Entrepreneurial Judgment: A New Approach to the Firm (Cambridge University Press, 2012).
Peter G. Klein and Micheal E. Sykuta, eds., The Elgar Companion to Transaction Cost Economics (Edward Elgar, 2010).
Peter G. Klein, The Capitalist and the Entrepreneur: Essays on Organizations and Markets (Mises Institute, 2010).
Richard N. Langlois, The Dynamics of Industrial Capitalism: Schumpeter, Chandler, and the New Economy (Routledge, 2007).
Nicolai J. Foss, Strategy, Economic Organization, and the Knowledge Economy: The Coordination of Firms and Resources (Oxford University Press, 2005).
Raghu Garud, Arun Kumaraswamy, and Richard N. Langlois, eds., Managing in the Modular Age: Architectures, Networks and Organizations (Blackwell, 2003).
Nicolai J. Foss and Peter G. Klein, eds., Entrepreneurship and the Firm: Austrian Perspectives on Economic Organization (Elgar, 2002).
Nicolai J. Foss and Volker Mahnke, eds., Competence, Governance, and Entrepreneurship: Advances in Economic Strategy Research (Oxford, 2000).
Nicolai J. Foss and Paul L. Robertson, eds., Resources, Technology, and Strategy: Explorations in the Resource-based Perspective (Routledge, 2000).