Markets, Firms, and the Process of Economic Development
构建了一个将价值创造视为资源组合与交换过程的分析框架，用以解释企业与市场如何互动创造经济价值，并说明为何制度多元性对经济发展至关重要。
We develop a framework to describe value creation as a process comprising resource combinations and exchanges and use the framework to show how organizations in general, and business firms in particular, interact with markets to create economic value for themselves, for their members, and for society. The theory offers an explanation of why neither a market nor a firm, by itself, can achieve adaptive efficiency and why institutional pluralism contributes to the process of economic development.