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Economics, Organization and Management

A book by Paul Milgrom, John Roberts, ISBN 978-0132246507

"Economics, Organization and Management" by Paul Milgrom and John Roberts offers a rigorous exploration of the economic principles underlying modern firms, addressing core challenges of coordination and motivation. Structured into seven parts, the book provides theoretical frameworks, practical examples, and solutions tested in collaboration with Stanford University MBA students, making it a comprehensive guide for understanding and managing organizations effectively. Through mathematical models and real-world illustrations, Milgrom and Roberts present a holistic approach to organizational economics, offering invaluable insights for students, practitioners, and scholars.

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Economics, Organization and Management by Paul Milgrom, John Roberts

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Book Summary: "Economics, Organization and Management"

"Economics, Organization and Management" by Paul Milgrom and John Roberts is a seminal work that offers a systematic exploration of the economics underpinning modern firms. Originally published in 1992, this book swiftly gained recognition as a cornerstone in the field of organizational management.

The book delves into the core challenges faced by organizations, focusing on the coordination and motivation of individuals within them. It draws on insights from various disciplines, presenting a cohesive and innovative approach to understanding and addressing these challenges.

Structured into seven parts, the book begins by examining the fundamental problems of economic organization, such as coordination and motivation. It progresses to discuss theories of coordination and motivation, exploring the role of prices, managerial actions, incentives, and moral hazard. The authors provide both informal and formal treatments of these concepts, offering readers a comprehensive understanding.

Further sections of the book delve into the complexities of ownership, property rights, employment policies, compensation, and managerial decision-making. Through rigorous analysis and mathematical models, Milgrom and Roberts illuminate the economic nature of management problems and propose practical solutions.

One of the book's strengths lies in its wealth of real-world examples, drawn from enterprises of varying sizes. These examples illustrate the application of economic theories in organizational practices, making the concepts tangible and relevant.

Moreover, the book benefits from the authors' extensive practical experience. Milgrom and Roberts collaborated closely with students from Stanford University's MBA program to refine the manuscript, comparing economic approaches with alternative management strategies.


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Economics, Organization and Management reviews
Paul D. Weitzekker Milan

I found this book very helpful - Paul Milgrom, John Roberts is a great teacher and writer. Probably Economics, Organization and Management is the one of the best on the topic
Economics, Organization and Management reviews
Britney2002 Pasadena

Economics, Organization and Management ebook PDF is a good option for a student. Personally I bought a hardcover version, my colleague has also purchased a kindle PDF version. Paul Milgrom, John Roberts is one of my favourite authors from now.
Economics, Organization and Management reviews
Katherine D. Ritz Berkeley

Got a PDF Kindle cversion of Economics, Organization and Management - I guess a hardcopy would be better. Paul Milgrom, John Roberts is a top-level prefessional