β
Edith Penrose
π
Fiction
π
Oxford University Press
π
English
β 247 KB
π 2 views
β¦ LIBER β¦
Multiple objectives in the theory of the firm
β Scribed by Georg Hasenkamp
- Publisher
- Springer
- Year
- 1992
- Tongue
- English
- Weight
- 789 KB
- Volume
- 3
- Category
- Article
- ISSN
- 0895-562X
No coin nor oath required. For personal study only.
β¦ Synopsis
An objective function with measures for two objectives is maximized to determine production decisions. These are shown to be analogous to production decisions under pure profit maximization, but using prices which include internally determined prices, different from market prices. The standard case of pure profit maximization results as a special case-as a testable hypothesis-by particular restrictions on parameters.
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## Abstract A growing number of companies are explicitly replacing bureaucratic internal resource allocation with internal markets. But if markets work well within firms, why are there firms at all? Why does not all allocation take place on βexternalβ markets? This paper seeks to resolve this appar