Integrating Economic and Organization Theory
Edited by Anna Grandori
Integrating economic and organization theory: products, problems and prospects
The integrated approach between organizational economics and organization theory offered in this volume yields various theory extensions and a number of reconciliations between the common divides and contrapositions of concepts that are increasingly under strain. The main achievements of this type are highlighted in the first section of these conclusions (‘Beyond divides’). The subsequent sections highlight some notable substantive and methodological advances emerging from the Handbook in terms of ‘new’ elements that are gaining importance in the analysis of economic organization (EO). These elements are ‘new’ in the sense that they have been traditionally neglected or underconsidered, and emerge as gaining importance here due to the combined effect of two methodological options and concerns: not only the effort of integrating relevant economic and organization theory, but also the effort of taking the challenge of an ‘empirically based’ economic science seriously (Simon 1997) that is capable of predicting and prescribing EO structures and behaviours in the modern economy, usually characterized as increasingly dynamic and uncertain, knowledge intensive and differentiated. These new elements include new variables, both in the role of explanans and explananda; new practices and systems that can enrich the typically contemplated portfolio of EO governance mechanisms; and new methods contributing results that would otherwise be difficult to achieve.
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