Monday, 29 December 2025

Coase versus Becker on utility maximisation

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Ronald Coase and Gary Becker explain and discuss the theory of rational maximizing utility. They describe how consumers rank preferences and...
Monday, 9 June 2025

A history of the contemporary mainstream economic theory of the firm 1920 - 2020. A story of opportunities taken and missed.

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We will examine the opportunities that were taken and those that were missed in the development of the mainstream economic theory of the fir...
Wednesday, 12 June 2024

100 years of the theory of the firm. Or may be only 50.

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Depending on how you pick your starting point there has been, roughly, 50 or 100 years of the mainstream economic theory of the firm. In sup...
Friday, 24 November 2023

Thinking about the theory of production/the firm

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 J. B. Condliffe has pointed out that  "[ ... ] economic activity and thoughts about it are as old a mankind'' (Condliffe 1974:...
Sunday, 11 December 2022

The history of the theory of production in one figure

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Or, (almost) everything you wanted to know about the history of the theory of production/the firm: but were afraid (too bored) to ask This p...
Friday, 25 November 2022

Coase on profit maximisation

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One important, and at times controversial, assumption used in most theories of the firm, including that of Coase, but not discussed by Coase...
Wednesday, 3 August 2022

Latest Blogwatch column 2

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My Blogwatch column from the latest issue ( Issue 72 , December 2021) of the NZAE magazine Asymmetric Information .

Latest Blogwatch column

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My Blogwatch column from the latest issue ( Issue 72 , December 2021) of the NZAE magazine Asymmetric Information .