RE: [OPE] Behavioural economics: a revolution in science?

Date: Wed Oct 01 2008 - 12:45:28 EDT

> Some time economists forget the useful practical knowledge that management sciences have accumulated for the sake of the direction of a firm.
> Part of this knowledge concerns accurate accounting systems.
Hi Alejandro:
This calls to mind something which (OPE-Ler) Tony Tinker said in a talk
Friday night. He claimed that mainstream management and accounting
theory is based on neo-classical economic theory.
Be that as it may, the more astute analysts in industrial organization
and corporate finance have tossed out marginalism as being too far removed from
the real-world conditions that they have to consider. Oh, sure, you can still
find marginalist textbooks on industrial organization, but who uses that stuff
in the real world? What this means in practice is that many managers have
to "de-learn" what they learned in graduate school if they're to de their jobs
In solidarity, Jerry

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Received on Wed Oct 1 12:51:08 2008

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