Abstract
psychology, and to illuminate the study of economic organization by means of such notions. A number of examples are provided.
| Original language | English |
|---|---|
| Place of Publication | Frederiksberg |
| Publisher | DRUID - Danish Research Unit for Industrial Dynamics |
| Edition | 3rd revision |
| Number of pages | 24 |
| ISBN (Print) | 8778731127 |
| Publication status | Published - 2001 |
| Series | DRUID Working Paper |
|---|---|
| Number | 01-13 |
Cite this
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Bounded Rationality in the Economics of Organization : Present Use and (Some)Future Possibilities. / Foss, Nicolai J.
3rd revision. ed. Frederiksberg : DRUID - Danish Research Unit for Industrial Dynamics, 2001.Research output: Working paper › Research
TY - UNPB
T1 - Bounded Rationality in the Economics of Organization
T2 - Present Use and (Some)Future Possibilities
AU - Foss, Nicolai J.
PY - 2001
Y1 - 2001
N2 - The way in which bounded rationality enters contemporary organizational economics theorizing is examined. It is argued that, as it is being used, bounded rationality is neither necessary nor sufficient for producing the results of organizational economics. It is at best a rhetorical device, used for the purpose of loosely explaining incomplete contracts. However, it is possible to incorporate much richer notions of bounded rationality, founded on research in cognitivepsychology, and to illuminate the study of economic organization by means of such notions. A number of examples are provided.
AB - The way in which bounded rationality enters contemporary organizational economics theorizing is examined. It is argued that, as it is being used, bounded rationality is neither necessary nor sufficient for producing the results of organizational economics. It is at best a rhetorical device, used for the purpose of loosely explaining incomplete contracts. However, it is possible to incorporate much richer notions of bounded rationality, founded on research in cognitivepsychology, and to illuminate the study of economic organization by means of such notions. A number of examples are provided.
M3 - Working paper
SN - 8778731127
T3 - DRUID Working Paper
BT - Bounded Rationality in the Economics of Organization
PB - DRUID - Danish Research Unit for Industrial Dynamics
CY - Frederiksberg
ER -