Industrial Organisation and Bounded Rationality

Neil M. Kay

Chapter 6 in The Emergent Firm, 1984, pp 84-110 from Palgrave Macmillan

Abstract: Abstract In this chapter we turn from investigating the general features of firm, market and state organisation to consideration of the implications of bounded rationality for one major field of economics; industrial organisation. We shall suggest that the interesting, non-trivial problems in this area derive directly from bounded rationality influences and we shall conclude that theoretical approaches in industrial organisation must build directly on this concept if they are to have any hope of empirical relevance. While concern here is limited to the field of industrial organisation, it would be extremely surprising if similar argument could not be developed against neoclassical theory in consumer theory also.

Keywords: Industrial Organisation; Vertical Integration; Corporate Strategy; Bounded Rationality; Neoclassical Theory (search for similar items in EconPapers)
Date: 1984
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-17517-8_6

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DOI: 10.1007/978-1-349-17517-8_6

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