MARKET VERSUS BEHAVIORAL THEORIES OF THE FIRM AND BASIC MANAGERIAL RESEARCH.
Abstract
The basic elements of the market (or economic) theory of the firm and the behavioral theory of the firm are presented. The contributions of each to understanding, prediction, and explanation of micro and macroeconomic theory are discussed briefly. The major focus is on prescriptive models for managerial decision making and the contributions that each theory has made toward progress in this area. Future possibilities for combining the elements of the two theories to improve prescriptive management models are suggested. (Author)
Document Details
- Document Type
- Technical Report
- Publication Date
- Apr 01, 1966
- Accession Number
- AD0631947
Entities
People
- Andrew C. Stedry
Organizations
- Carnegie Institute of Technology