Hayek and Organizational Studies
Nicolai J. Foss
Copenhagen Business School - Department of Strategic Management and Globalization
Peter G. Klein
University of Missouri, Division of Applied Social Sciences; Norwegian School of Economics and Business Administration; Ludwig von Mises Institute
February 3, 2013
OXFORD HANDBOOK OF SOCIOLOGY, SOCIAL THEORY AND ORGANIZATIONAL STUDIES: CONTEMPORARY CURRENTS, Paul Adler, Paul du Gay, Glenn Morgan, Mike Reed, eds., Oxford University Press, 2013
We briefly survey Hayek’s work and argue for its increasing relevance for organizational scholars. Hayek’s work inspired aspects of the transaction cost approach to the firm as well as knowledge management and knowledge-based view of the firm. But Hayek is usually seen within organizational scholarship as a narrow, technical economist. We hope to change that perception here by pointing to his work on rules, evolution, entrepreneurship and other aspects of his wide-ranging oeuvre with substantive implications for organizational theory.
Number of Pages in PDF File: 29
Keywords: Friedrich Hayek, organizational theory, dispersed knowledge, evolved rules, subjectivism, entrepreneurship
JEL Classification: B25, B5, D23Accepted Paper Series
Date posted: February 6, 2013
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