This paper presents a model of a firm preparing to launch a product into a market where consumer preferences change over time and cannot be directly observed. Market research is used in order to determine what type of product to produce. The employees making decisions based on the market...

In the study of complex systems---in particular self-organizing systems---the notions of emergence and higher order structures come up. A framework for studying them was given in [1,2] where the notion of a hyperstructures occur both in an intuitive and a formal sense. But in formalizations of...

The probability that an unskilled worker can be successfully trained and or screened to be a manager depends on the effort of the firm. With positive hiring costs, a firm prefers to train/screen its own managers. However the optimal size of the firm for productive efficiency may conflict with...