Journal ArticleDOI
A Behavioral Model of Rational Choice
TLDR
In this article, a model for the description of rational choice by organisms of limited computational ability is proposed, and the model is used to describe rational choice in organisms with limited computational abilities.Abstract:
: A model is proposed for the description of rational choice by organisms of limited computational ability.read more
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Journal ArticleDOI
Theory of the firm: Managerial behavior, agency costs and ownership structure
TL;DR: In this article, the authors draw on recent progress in the theory of property rights, agency, and finance to develop a theory of ownership structure for the firm, which casts new light on and has implications for a variety of issues in the professional and popular literature.
Journal ArticleDOI
Exploration and Exploitation in Organizational Learning
TL;DR: In this paper, the authors consider the relation between the exploration of new possibilities and the exploitation of old certainties in organizational learning and examine some complications in allocating resources between the two, particularly those introduced by the distribution of costs and benefits across time and space.
Journal ArticleDOI
The Framing of Decisions and the Psychology of Choice
Amos Tversky,Daniel Kahneman +1 more
TL;DR: The psychological principles that govern the perception of decision problems and the evaluation of probabilities and outcomes produce predictable shifts of preference when the same problem is framed in different ways.
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The Evolution of Cooperation
R. B. Greene,Robert Axelrod +1 more
TL;DR: A model is developed based on the concept of an evolutionarily stable strategy in the context of the Prisoner's Dilemma game to show how cooperation based on reciprocity can get started in an asocial world, can thrive while interacting with a wide range of other strategies, and can resist invasion once fully established.
Journal ArticleDOI
International Norm Dynamics and Political Change
TL;DR: The authors argue that norms evolve in a three-stage "life cycle" of emergence, cascades, and internalization, and that each stage is governed by different motives, mechanisms, and behavioral logics.