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2.
BaldwinW., “The Motives of Managers, Environmental Restraints, and the Theory of Managerial Enterprise,”The Quarterly Journal of Economics (May 1964), 238–256; BaumolW., Business Behavior, Value, and Growth (New York: McMillan, 1954); ChamberlainN., The Firm: Micro-Economic Planning and Action (New York: McGraw-Hill, 1962); CyertRichard M.MacCrimmonKenneth R., “Organizations,” in LindzeyG.AronsonE. (eds.), Handbook of Social Psychology, 2d ed. (Reading, Mass.: Addison-Wesley, 1967); CyertRichard M.MarchJ. G., A Behavioral Theory of the Firm (Englewood Cliffs: Prentice Hall, 1963); LanzillottiR. F., “Pricing Objectives in Large Companies,”American Economic Review (Dec. 1958), 921–940; ShubikM., “Approaches to the Study of Decision Making Relevant to the Firm,”Journal of Business (April 1961), 101–118.
3.
CarterE. Eugene, A Behavioral Theory Approach to Firm Investment and Acquisition Decisions (unpublished Ph.D. dissertation, graduate School of Industrial Administration, Carnegie-Mellon University, 1970).
4.
CohenKalman J.EltonE., “Inter-Temporal Portfolio Selection Based on Simulation of Joint Returns,”Management Science (Sept. 1967), B-5–B-18; ReiterS., “Choosing an Investment Program Among Interdependent Projects,”Review of Economic Studies (Feb. 1963), 32–36; WeingartnerH. Martin, “Capital Budgeting of Interrelated Projects: Survey and Synthesis,”Management Science (March 1966), A-485–A-516; WeingartnerH. Martin, Mathematical Programming and the Analysis of the Capital Budgeting Problems (Englewood Cliffs: Prentice-Hall, 1963).
5.
JohnsenErik, Studies in Multiobjective Decision Models, monograph no. 1 (Lund, Sweden: Economic Research Center, 1968).
6.
See CohenElton.
7.
MoodAlexander M.GraybillFranklin A., Introduction to the Theory of Statistics, 2d ed. (New York: McGraw-Hill, 1963), p. 211.
8.
MarkowitzHarry, Portfolio Selection: Efficient Diversification of Investments, Cowles Foundation monograph no. 16 (New York: Wiley, 1959).
9.
KnightF. H., Risk, Uncertainty, and Profit (Boston: Houghton Mifflin, 1921). The discussion in this paper has followed the convention of considering risk as referring to those situations where it is possible to know probability distributions for the occurrence of particular events. Uncertainty, by contrast, denotes those situations in which there is no knowledge about the likelihood of occurrence of various outcomes.
10.
AnsoffH. I., Corporate Strategy (New York: McGraw-Hill, 1965).