The Limits of Organization

Business & Finance, Human Resources & Personnel Management, Organizational Behavior, Economics, Theory of Economics
Cover of the book The Limits of Organization by Kenneth J. Arrow, W. W. Norton & Company
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Kenneth J. Arrow ISBN: 9780393355796
Publisher: W. W. Norton & Company Publication: February 17, 1974
Imprint: W. W. Norton & Company Language: English
Author: Kenneth J. Arrow
ISBN: 9780393355796
Publisher: W. W. Norton & Company
Publication: February 17, 1974
Imprint: W. W. Norton & Company
Language: English

The tension between what we wish for and what we can get, between values and opportunities, exists even at the purely individual level. A hermit on a mountain may value warm clothing and yet be hard-pressed to make it from the leaves, bark, or skins he can find. But when many people are competing with each other for satisfaction of their wants, learning how to exploit what is available becomes more difficult. In this volume, Nobel Laureate Kenneth J. Arrow analyzes why - and how - human beings organize their common lives to overcome the basic economic problem: the allocation of scarce resources. The price system is one means of organizing society to mediate competition, and Arrow analyzes its successes and failures. Alternative modes of achieving efficient allocation of resources are explored: government, the internal organization of the firm, and the 'invisible institutions' of ethical and moral principles. Professor Arrow shows how these systems create channels to make decisions, and discusses the costs of information acquisition and retrieval. He investigates the factors determining which potential decision variables are recognized as such. Finally, he argues that organizations must achieve some balance between the power of the decision makers and their obligation to those who carry out their decisions - between authority and responsibility.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

The tension between what we wish for and what we can get, between values and opportunities, exists even at the purely individual level. A hermit on a mountain may value warm clothing and yet be hard-pressed to make it from the leaves, bark, or skins he can find. But when many people are competing with each other for satisfaction of their wants, learning how to exploit what is available becomes more difficult. In this volume, Nobel Laureate Kenneth J. Arrow analyzes why - and how - human beings organize their common lives to overcome the basic economic problem: the allocation of scarce resources. The price system is one means of organizing society to mediate competition, and Arrow analyzes its successes and failures. Alternative modes of achieving efficient allocation of resources are explored: government, the internal organization of the firm, and the 'invisible institutions' of ethical and moral principles. Professor Arrow shows how these systems create channels to make decisions, and discusses the costs of information acquisition and retrieval. He investigates the factors determining which potential decision variables are recognized as such. Finally, he argues that organizations must achieve some balance between the power of the decision makers and their obligation to those who carry out their decisions - between authority and responsibility.

More books from W. W. Norton & Company

Cover of the book Game-Changer: Game Theory and the Art of Transforming Strategic Situations by Kenneth J. Arrow
Cover of the book The End of Sleep by Kenneth J. Arrow
Cover of the book The Wolf and the Watchman: A Father, a Son, and the CIA by Kenneth J. Arrow
Cover of the book 100 Essential Things You Didn't Know You Didn't Know about Math and the Arts by Kenneth J. Arrow
Cover of the book Not on Speaking Terms: Clinical Strategies to Resolve Family and Friendship Cutoffs by Kenneth J. Arrow
Cover of the book "On My Way": The Untold Story of Rouben Mamoulian, George Gershwin, and Porgy and Bess by Kenneth J. Arrow
Cover of the book New Mexico: A History by Kenneth J. Arrow
Cover of the book Thieves of State: Why Corruption Threatens Global Security by Kenneth J. Arrow
Cover of the book Words No Bars Can Hold: Literacy Learning in Prison by Kenneth J. Arrow
Cover of the book The Ayatollahs' Democracy: An Iranian Challenge by Kenneth J. Arrow
Cover of the book Pâté, Confit, Rillette: Recipes from the Craft of Charcuterie by Kenneth J. Arrow
Cover of the book The Black House by Kenneth J. Arrow
Cover of the book The Widow's Children: A Novel by Kenneth J. Arrow
Cover of the book Beethoven's Symphonies: An Artistic Vision by Kenneth J. Arrow
Cover of the book So You Think You Know Baseball?: A Fan's Guide to the Official Rules by Kenneth J. Arrow
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy