Case studies that examine how firms coordinate economic activity in the face of asymmetric information--information not equally available to all parties--are the focus of this volume.
In an ideal world, the market would be the optimal provider of coordination, but in the real world of incomplete information, some activities are better coordinated in other ways. Divided into three parts, this book addresses coordination within firms, at the borders of firms, and outside firms, providing a picture of the overall incidence and logic of economic coordination. The case studies--drawn from the late nineteenth and early twentieth century, when the modern business enterprise was evolving, address such issues as the relationship between coordination mechanisms and production techniques, the logic of coordination in industrial districts, and the consequences of regulation for coordination.
Continuing the work on information and organization presented in the influential "Inside the Business Enterprise," this book provides material for business historians and economists who want to study the development of the dissemination of information and the coordination of economic activity within and between firms.

This book is a collection of essays about the emergence of routines and, more generally, about getting things organized in firms and in industries in early stages and in transition. These are subjects of the greatest interest to students of entrepreneurship and organizations, as well as to business historians, but the academic literature is thin. The chronological settings of the book's eleven substantive chapters are historical, reaching as far back as the late 1800s right up to the 1990s, but the issues they raise are evergreen and the historical perspective is exploited to advantage. The chapters are organized in three broad groups: examining the emergence of order and routines in initiatives, studying the same subject in ongoing operations, and a third focusing specifically on the phenomena of transition. The topics range from the Book-of-the-Month Club to industrial research at Alcoa, from the evolution of procurement and coordination to project-based industries such as bridge- and dam-building and the governance of defence contracting, and from the development of project performance appraisal at the World Bank to the way the global automobile industry collectively redesigned the internal combustion engine to deal with after the advent of environmental regulation. The chapters are vivid and thought-provoking in themselves and, for pedagogical purposes, offer excellent jumping-off points for discussion of relevant experiences and cognate academic literature.

"Learning by Doing in Markets, Firms, and Countries" draws out the underlying economics in business history by focusing on learning processes and the development of competitively valuable asymmetries. The essays show that organizations, like people, learn that this process can be organized more or less effectively, which can have major implications for how competition works.
The first three essays in this volume explore techniques firms have used to both manage information to create valuable asymmetries and to otherwise suppress unwelcome competition. The next three focus on the ways in which firms have built special capabilities over time, capabilities that have been both sources of competitive advantage and resistance to new opportunities. The last two extend the notion of learning from the level of firms to that of nations. The collection as a whole builds on the previous two volumes to make the connection between information structure and product market outcomes in business history.