The Firm and Strategic Factor Markets: Analyzing the Role of the Firm in the Creation of and Pricing in Factor Markets

14 Pages Posted: 29 Jan 2011

See all articles by Per L. Bylund

Per L. Bylund

School of Entrepreneurship; Ratio Institute; Ludwig von Mises Institute

Date Written: January 31, 2010

Abstract

The theory of imputation, as analyzed and elaborated on by influential thinkers in the Austrian school of economics, tends to explain how prices of factors are "imputed" from prices of consumer goods and, more specifically, how consumers value products and services offered in the market. However, the theory of imputation explains this process in already existing markets for capital goods and factors. This paper extends the theory through attempting to explain how such markets arise, and more specifically what the role of the entrepreneur and the firm are in this process.

Keywords: Factor Prices, Imputation, Entrepreneurship, Theory of the Firm

JEL Classification: M13, D21, D49, L11, L22

Suggested Citation

Bylund, Per L., The Firm and Strategic Factor Markets: Analyzing the Role of the Firm in the Creation of and Pricing in Factor Markets (January 31, 2010). Available at SSRN: https://ssrn.com/abstract=1749515 or http://dx.doi.org/10.2139/ssrn.1749515

Per L. Bylund (Contact Author)

School of Entrepreneurship ( email )

Oklahoma State University
424 Business building
Stillwater, OK 74078
United States
4057444301 (Phone)

HOME PAGE: http://https://business.okstate.edu/directory/bylund-per-694946.html

Ratio Institute ( email )

P.O. Box 3203
SE-103 64 Stockholm
Sweden

Ludwig von Mises Institute ( email )

Auburn, AL
United States

HOME PAGE: http://mises.org/bylund

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