Topic
Managerial economics
About: Managerial economics is a research topic. Over the lifetime, 1524 publications have been published within this topic receiving 83965 citations.
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TL;DR: In this paper, it is shown that in an unconstrained situation under certainty, with complete freedom to borrow or lend at one rate of interest, the present worth index and its equivalents are correct while indices inconsistent with present worth are wrong.
Abstract: In the traditional literature of engineering and managerial economics, a variety of different and not generally consistent indices have been proposed for deciding whether a given capital investment project should be undertaken. Using mathematical programming, it is shown herein that in an unconstrained situation under certainty, with complete freedom to borrow or lend at one rate of interest, the present worth index and its equivalents are correct while indices inconsistent with present worth are wrong. However, in the presence of further constraints, e.g., on allowed borrowing or on available scarce material, even the present worth index is unsatisfactory, and, in general, a complete mathematical programming solution is required.
46 citations
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TL;DR: In this paper, the authors assess what the various economic literatures have added to our understanding of good consumer policy and analyse those policy implications that might flow from different theoretical approaches in order to broaden the foundation of an economic justification for consumer policy.
Abstract: The question concerning when a governmental intervention in the market system is justified has occupied economists from the very beginning and has been a controversial discussion topic for just as long. Against this background, with respect to modern consumer policy, which still represents a relatively young field in the theory of economic policy, it is vital to find sound economic reasons for governmental regulations in order to protect consumers. Therefore, the article attempts to assess what the various economic literatures have added to our understanding of good consumer policy. For this reason, those policy implications that might flow from different theoretical approaches in order to broaden the foundation of an economic justification for consumer policy will be analysed. For this purpose, the consumer policy implications of the Economics of Information will be described, including a denomination of some certain problems all of which are not covered satisfactorily by this approach. Subsequently and in order to amend the informational economics framework, further economical approaches from New Institutional Economics, Behavioural Economics as well as Behavioural Consumer Research, which provide a complementary analysis of consumer behaviour in consideration of the respective decision-making situations and determining constraints (formal and informal rules, cognitive and emotional boundaries), will be discussed comparatively with respect to their consumer policy implications.
46 citations
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TL;DR: A systematic approach to the literature review covering business process and strategic management fields concludes that managerial processes are critical for sustaining and developing competitive advantage, but our understanding as to what they are, their contents and how they function is limited.
Abstract: Motivated by the view that the managerial processes underpin the dynamic capabilities of the firm, this article seeks to review the current state of knowledge on managerial processes and propose a research agenda towards a better understanding of managerial processes. A systematic approach to the literature review covering business process and strategic management fields concludes that managerial processes are critical for sustaining and developing competitive advantage, but our understanding as to what they are, their contents and how they function is limited. A definition for managerial processes is proposed and the context within which managerial processes function is identified. An empirically based research agenda, comprising research questions, is outlined that would serve to enhance our understanding of the managerial processes that underpin dynamic capabilitie
46 citations
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TL;DR: In global competition, the managerial economics of intangibles imposes new network policies of corporate social responsibility, dominated by global social issues such as economic sustainability, eco-responsibility, worker protection and so on as discussed by the authors.
Abstract: Network organisations emphasise the importance of corporate and product intangible assets. In global competition, the managerial economics of intangibles imposes new network policies of corporate social responsibility, dominated by global social issues such as economic sustainability, eco-responsibility, worker protection and so on.
45 citations
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01 Jan 1999
44 citations