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150325s2008 xx |||||o 00| ||eng c |
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|a 10.2307/40060239
|2 doi
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|a (DE-627)JST08423234X
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|a (JST)40060239
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|a DE-627
|b ger
|c DE-627
|e rakwb
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|a eng
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|a Nickerson, Jack A.
|e verfasserin
|4 aut
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|a Envy, Comparison Costs, and the Economic Theory of the Firm
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|c 2008
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|a Text
|b txt
|2 rdacontent
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|a Computermedien
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|2 rdamedia
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|a Online-Ressource
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|a An economic theory of the firm must explain both when firms supplant markets and when markets supplant firms. While theories of when markets fail are well developed, the extant literature provides a less than adequate explanation of why and when hierarchies fail and of actions managers take to mitigate such failure. In this article, we seek to develop a more complete theory of the firm by theorizing about the causes and consequences of organizational failure. Our theory focuses on the concept of social comparison costs that arise through social comparison processes and envy. While transaction costs in the market provide an impetus to move activities inside the boundaries of the firm, we argue that envy and resulting social comparison costs motivate moving activities outside the boundary of the firm. More specifically, our theory provides an explanation for 'managerial' diseconomies of both scale and scope--arguments that are independent from traditional measurement, rent seeking, and competency arguments--that provides new insights into the theory of the firm. In our theory, hierarchies fail as they expand in scale because social comparison costs imposed on firms escalate and hinder the capacity of managers to optimally structure incentives and production. Further, hierarchy fails as a firm expands in scope for the simple reason that the costs of differentially structuring compensation within the firm to match the increasing diversity of activities also rises with increasing scope. In addition, we explore how social comparison costs influence the design of the firm through selection of production technologies and compensation structures within the firm.
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|a Copyright 2008 John Wiley & Sons, Ltd.
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|a theory of the firm
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|a envy
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|a comparison costs
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|a diseconomies of scale and scope
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4 |
|a firm boundaries
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650 |
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4 |
|a Behavioral sciences
|x Psychology
|x Social psychology
|x Social perception
|x Social comparison
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650 |
|
4 |
|a Economics
|x Microeconomics
|x Economic costs and benefits
|x Economic costs
|x Social costs
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650 |
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4 |
|a Behavioral sciences
|x Psychology
|x Cognitive psychology
|x Emotion
|x Emotional states
|x Envy
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650 |
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4 |
|a Economics
|x Microeconomics
|x Economic costs and benefits
|x Economic costs
|x Capital costs
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650 |
|
4 |
|a Economics
|x Microeconomics
|x Economic costs and benefits
|x Economic costs
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650 |
|
4 |
|a Business
|x Business economics
|x Commercial production
|x Production factors
|x Production costs
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650 |
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4 |
|a Business
|x Business administration
|x Human resources
|x Employee compensation
|x Wages
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650 |
|
4 |
|a Economics
|x Economic disciplines
|x Financial economics
|x Finance
|x Financial management
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650 |
|
4 |
|a Social sciences
|x Communications
|x Semiotics
|x Semantics
|x Referents
|
650 |
|
4 |
|a Economics
|x Microeconomics
|x Economic costs and benefits
|x Economic costs
|x Transaction costs
|
650 |
|
4 |
|a Behavioral sciences
|x Psychology
|x Social psychology
|x Social perception
|x Social comparison
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650 |
|
4 |
|a Economics
|x Microeconomics
|x Economic costs and benefits
|x Economic costs
|x Social costs
|
650 |
|
4 |
|a Behavioral sciences
|x Psychology
|x Cognitive psychology
|x Emotion
|x Emotional states
|x Envy
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650 |
|
4 |
|a Economics
|x Microeconomics
|x Economic costs and benefits
|x Economic costs
|x Capital costs
|
650 |
|
4 |
|a Economics
|x Microeconomics
|x Economic costs and benefits
|x Economic costs
|
650 |
|
4 |
|a Business
|x Business economics
|x Commercial production
|x Production factors
|x Production costs
|
650 |
|
4 |
|a Business
|x Business administration
|x Human resources
|x Employee compensation
|x Wages
|
650 |
|
4 |
|a Economics
|x Economic disciplines
|x Financial economics
|x Finance
|x Financial management
|
650 |
|
4 |
|a Social sciences
|x Communications
|x Semiotics
|x Semantics
|x Referents
|
650 |
|
4 |
|a Economics
|x Microeconomics
|x Economic costs and benefits
|x Economic costs
|x Transaction costs
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655 |
|
4 |
|a research-article
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700 |
1 |
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|a Zenger, Todd R.
|e verfasserin
|4 aut
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773 |
0 |
8 |
|i Enthalten in
|t Strategic Management Journal
|d John Wiley & Sons
|g 29(2008), 13, Seite 1429-1449
|w (DE-627)271175133
|w (DE-600)1478912-7
|x 10970266
|7 nnns
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773 |
1 |
8 |
|g volume:29
|g year:2008
|g number:13
|g pages:1429-1449
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856 |
4 |
0 |
|u https://www.jstor.org/stable/40060239
|3 Volltext
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|u https://doi.org/10.2307/40060239
|3 Volltext
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|d 29
|j 2008
|e 13
|h 1429-1449
|