J.-C. Spender

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Nelson & Winter (1982) point out that uncertainty, managers’ frequent companion as they guide firms towards their goals, is poorly dealt with in theories of the firm. If knowledge is to be treated as the most strategic of assets, we should reconsider its relation to uncertainty. I draw on prior research and categorize uncertainty as three types of knowledge(More)
The economics literature on the ‘theory of the firm’ is extensive. But it fails to address Coase’s 1937 ‘killer questions’, his pointing out that we have no rigorous theory of the firm that can explain or justify their existence. In particular we have no theory of how real people, as opposed to computational devices, fit into notions of the firm that can(More)
Human capital measurement and accounting has been under discussion for years without any satisfactory methodology emerging. The economic significance of today’s knowledge-intensive organizations makes better HC measurement more pressing. We draw on insights from the knowledge-based theory of the firm and conclude we can only make sense of its human capital(More)
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