Thünen-Vorlesung: Unternehmensführung und ökonomische Rationalität
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| 024 | 7 | 0 | |a 10.1111/1468-2516.00126 |2 doi |
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| 100 | 1 | |a Hax |D Herbert |u Universität zu Köln | |
| 245 | 1 | 0 | |a Thünen-Vorlesung: Unternehmensführung und ökonomische Rationalität |h [Elektronische Daten] |c [Herbert Hax] |
| 520 | 3 | |a In a normative theory of decision making in the firm, limited cognitive capabilities of decision makers can be taken into account in different ways. If individual decision making alone is being considered, the concept of rationality must be defined in such a way that it is acceptable from the viewpoint of potential users of the theory. In an organizational context, normative theory deals primarily with the design of contracts; as far as the anticipation of the actual behaviour of contract partners is concerned an empirically valid descriptive decision theory is needed. A major problem which arises if one applies contract theory to problems of corporate governance is the definition of an adequate standard to evaluate the firm's outcome periodically. Accounting profit and market value are two possible measures, but both have grave shortcomings. | |
| 540 | |a © 2014 by Walter de Gruyter GmbH & Co. | ||
| 773 | 0 | |t Perspektiven der Wirtschaftspolitik |d De Gruyter |g 4/3(2003-08), 295-312 |x 1465-6493 |q 4:3<295 |1 2003 |2 4 |o pwp | |
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| 950 | |B NATIONALLICENCE |P 100 |E 1- |a Hax |D Herbert |u Universität zu Köln | ||
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