Teece (1982) - Towards An Economic Theory Of The Multiproduct Firm

From edegan.com
Jump to navigation Jump to search
Has bibtex key
Has article title Towards An Economic Theory Of The Multiproduct Firm
Has author Teece
Has year 1982
In journal
In volume
In number
Has pages
Has publisher
© edegan.com, 2016


  • Teece, D. (1982), "Towards an economic theory of the multiproduct firm", Journal of Economic Behavior and organization, 3, pp.39-63. pdf


This paper outlines a theory of the multiproduct finrm. Important building blocks include excess capacity and its creation, market imperfections, and the peculiarities of organizational knowledge, including its fungible tacit character. A framework is adopted in which profit seeking firms are seen to diversify in order to avoid the high trdnsacdons costs associated with using markets to trade the services of various specialized assets. Neoclassical explanations of the multiproduct firm are shown to be seriously deficient.