The main objective of the firm in economics-based models is to maximize profit. Dropping this objective in order to make the models more realistic complicates the analysis and is seldom done, thus leaving management action out of the picture. In this paper we try to understand how management...

At the end of the first decade of the 21st century, a disastrous world economic crisis is creating a very difficult situation for many people. The causes of the crisis are many and complex. The reigning economism looks for mechanical causes (excessively low interest rates, "herd" behavior in the...

Developing and effectively using firm-specific, idiosyncratic knowledge in a firm is becoming fundamental for the formation of sustainable competitive advantages. The issue unavoidably touches upon learning and management topics (motivation, compensation, etc.) A central one has to do with how...