Table of Contents

Title page; Table of contents; Introduction; Outline of macroscopic thermodynamics; Information theory, statistical thermodynamics and value transaction theory; The capital asset pricing model and value transaction theory; The transformation of risk into value; The linear free value transducer; Dissipative structures: The stability of steady states; The non-linear free value transducer: Sustained evolution; Competition and selection: The firm and information processing; Economies, markets and industries: Value transaction theory; Glossary of salient terms. Develops a conceptually and mathematically consistent framework for the concepts used in organizational economics. This book is suitable for those who want to be able to understand and use evolutionary approaches to organizations, whether they are familiar with the subject or not.