Imperfections of Information

P. J. Curwen

Chapter Chapter 14 in The Theory of the Firm, 1976, pp 99-102 from Palgrave Macmillan

Abstract: Abstract The crux of the problem has been expressed by Margolis as follows:1 The information and calculability necessary for the management of a firm to move to its equilibrium profit-maximising price-output combination are clearly not available. Uncertainty and ignorance are omni-present. No matter how pleasing may be the prospect of an activity with the greatest possible profits, the choice for management is rarely on the agenda.

Keywords: Equilibrium Price; Individual Firm; Perfect Foresight; Previous Time Period; Strong Compe (search for similar items in EconPapers)
Date: 1976
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-15645-0_14

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349156450

DOI: 10.1007/978-1-349-15645-0_14

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().