A Theory of the firm allowing for multiple objectives

Resumo

The distinction between the cases ofmultiple irreducible objectives and of a utility function's multiple arguments is the starting point of the analysis. A first case is treated employing the lexicographic principle and it is shown that the Baumol type models and behaviorist notions such assatisficing can therebygain a theoreticalstructure. It is shown that the satisficing notion implies the existence of multiple goals. The second case, corresponding to the utility functions of the firm when these display the functional form, an implicit restrictive necessary condition for the existence ofa specific utility function is disclosed.

Ficha do documento

Tipo

Artigo científico

Ano

2002

Instituição

Universidade de São Paulo. Faculdade de Economia, Administração, Contabilidade e Atuária

Fonte

Estudos Econômicos

Idioma

Inglês

Acesso

Não informado

DOI

10.11606/1980-53573241jhm

Identificador

oai:revistas.usp.br:article/215507

Licença

https://creativecommons.org/licenses/by-nc/4.0

Palavras-chave

Theory of the firmUtility models of the firmLexicographic preferencesMultiple objectivesBehaviorismSatisficingBounded rationalityTeoria da firmaModelos de utilidade da firmaPreferendas lexicograficasObjetivos multiplosComportamentoSatisfaçãoRacionalidade limitada