A behavioral theory of the firm

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Title A behavioral theory of the firm
Author CYERT, Richard M.; MARCH, James G.
Abstract This book demonstrates the valuable role of behavioral science as a contributing factor in the establishment of a theory of organizational decision-making, and offers vital new material to both the theory of organizations and the economic theory of the firm. New concepts presented are― organizational slack, uncertainty avoidance, organizational learning-all developed and investigated in detail to afford the reader new and better ways of understanding the patterns of decision-making in organizations. The authors outline four relational concepts in a behavioral theory of the firm, and present a basic structure of the organizational decision-making process. Utilizing computer simulation to construct models or organizational behavior, this book examines and tests: a specific price and output model, a general model of price and output determination, a model of rational managerial behavior, and a model of trust investment behavior. There is a searching discussion of assumption, prediction, and explanation in economics, and an examination of the construction, characteristics, and problems of computer models in dynamic economics. This outstanding work offers a new theory of the firm, and presents it through testable and here-in tested propositions.
xmlui.dri2xhtml.METS-1.0.item-description-miscellaneous 332 p., fig.
URI http://hdl.handle.net/2042/28590
Date 1963
Identifiant P588

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