Approaches to the Study of Decision-Making Relevant to the Firm

Summary: In this paper some of the difficulties in utilizing much of economic theory as an aid to the study of decision-making at the level of the firm are reviewed. New theories, techniques and experimentation aimed at overcoming these difficulties are then discussed. The area covered is, of necessity, broad. No attempt is made to provide more than an indication of the type of work in progress and the nature of the problem to which it is addressed. References are supplied for those wishing a more detailed exposition of the many topics noted here.