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Expectation, Enterprise and Profit: The Theory of the Firm

Autor G. L. S. Shackle
en Limba Engleză Paperback – 15 iul 2007
Production is a complex system of interdependent activities, necessary to the system as a whole, which itself depends on the continuance of each individual activity that composes it. In such a system, resources must be committed to specific technological purposes long in advance to the ultimate sale of goods to the consumer.
The success of such an enterprise system rests on the durability of the instruments it uses. These are so complex, sensitive, and powerful that their huge expense can be recovered only if they can be used for many years. Yet when the decision is made to invest in them, those years of use are in the future and the conditioning circumstances are unobservable and unknown.
The firm in Western economies is the essential institutional means of confronting this problem of uncertainty, Expectation, Enterprise and Profit: The Theory of the Firm is concerned with the nature and mode of life of the firm as a means of policy formation in the face of uncertainty.
This book offers a concise treatment and excellent analysis of the major concepts studied in a first course in the theory of the firm.
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Specificații

ISBN-13: 9780202309491
ISBN-10: 0202309495
Pagini: 156
Ilustrații: 1
Dimensiuni: 152 x 229 x 11 mm
Greutate: 0.25 kg
Ediția:1
Editura: Taylor & Francis
Colecția Routledge
Locul publicării:Oxford, United Kingdom

Cuprins

Preface; 1: The Nature of Production; 2: The Matrix of Production; 3: The Firm’s Tests of Rightness; 4: Investment; 5: Expectation; 6: Interdependent Decision-making; 7: Profit and Equilibrium

Descriere

Production is a complex system of interdependent activities, necessary to the system as a whole, which itself depends on the continuance of each individual activity that composes it