Organizational Economics

Abstract

Organizational economics has thrived as a field of study for nearly three decades. Although note exceptions, the field of organizational economics can generally be distinguished from other fields within organization theory by its assumption that managers attempt to maximize profits, its reliance on rationality (bounded or perfect), and its emphasis on competition as a discipliner of wayward organizations. As such, organizational economists tend to favor efficiency explanations for organization, believing that many non-efficiency issues highlighted by other organization theorists are likely to be resolved through the price mechanism.

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