Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/94741
Authors: 
Pelikan, Pavel
Year of Publication: 
1989
Series/Report no.: 
IUI Working Paper 215
Abstract: 
To assess the merits of the market for corporate control, this paper examines two processes which standard analysis does not study: the allocation of economic competence and the evolution of organizational structures. Economic competence is seen to be an unusual scarce resource embodied in the very ways in which individuals and organizations take economic decisions, which guides the allocation of all scarce resources, including itself. Its efficient allocation is shown to require an evolutionary trial-and-error process, where the market for corporate control plays a crucial role.
Subjects: 
Corporate control
evolution of organisational structures
economic competence
JEL: 
D83
L22
Document Type: 
Working Paper

Files in This Item:
File
Size
1.98 MB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.