Chapter

The Nature of the Firm

Mark Casson

in Information and Organization

Published in print January 2001 | ISBN: 9780198297802
Published online November 2003 | e-ISBN: 9780191596063 | DOI: http://dx.doi.org/10.1093/0198297807.003.0003
The Nature of the Firm

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Information processing is specialized in particular types of institution. The firm is a specialized information processor. Firms are created on the initiative of entrepreneurs, who establish them as organizations to facilitate trade, in particular, commodities. Entrepreneurs make extensive use of networks to gather the information they need to identify the market opportunities they exploit.

Keywords: entrepreneur; firm; Intermediation; Internalization; market; organization

Chapter.  18799 words.  Illustrated.

Subjects: Microeconomics

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