It has recently been argued by a number of writers that the evolutionary theory of the firm is a genuine theoretical rival to the contractual theory of the firm. This paper presents a reconstruction of the evolutionary theory of the firm. A taxonomy developed by the Polish philosopher Krajewski is then utilized for the purpose of the discussing the relations between the evolutionary and the contractual theory of the firm. It is possible to argue that the evolutionary and the contractual theories of the firm are rivals. However, it is also possible to argue that they have complementary areas of research, some of which are briefly described in the paper.
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Paper provided by Department of Industrial Economics and Strategy, Copenhagen Business School in its series IVS/CBS Working Papers with number
97-4.
Find related papers by JEL classification: B4 - Schools of Economic Thought and Methodology - - Economic Methodology L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure B49 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Other
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