Accounting and Economic Theory

Martin Shubik

Yale School of Management Working Papers from Yale School of Management

Abstract: This paper deals with the changing relationship between economic theory and accounting practice and theory. It argues that many of the basic problems encountered in practice cannot be avoided in any attempt to construct an economic theory adequate to handle dynamics. In particular problems of timing become critical. furthermore, there are several critical problems concerning profit maximization, the nature of the rate of interest, agency problems within the firm and the payment of dividends which cannot be dealt with unless there is an adequate reconciliation of accounting and economic theory.

JEL-codes: A10 A12 M40 (search for similar items in EconPapers)
Date: 2003-01-21
New Economics Papers: this item is included in nep-acc, nep-his and nep-hpe
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Persistent link: https://EconPapers.repec.org/RePEc:ysm:somwrk:ysm314

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