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A non-parametric revealed preference test of optimal intra-firm resource allocation

[Zeitschriftenartikel]

Seaton, Jonathan Stuart

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Abstract The collective rationality hypothesis initiated by Chiappori (1988) and applied by Seaton (1997, 2001) for a two-person household is used to distinguish the organizational behaviour of firms. Firms produce satisfaction to groups as traditional managerial and early behavioural theories of the firm of Williamson, Baumol and Marris suggest, as well as more modern principle-agent models. Under certain conditions intra firm bargaining leads to a Pareto optimal outcome. What makes this work an important contribution is that it identifies a set of non-vacuous testable restrictions to empirically detect if firm level data satisfy Pareto optimal behaviour for the main decision makers in the organization.
Klassifikation Management; Wirtschaftsstatistik, Ökonometrie, Wirtschaftsinformatik
Sprache Dokument Englisch
Publikationsjahr 2009
Seitenangabe S. 3463-3476
Zeitschriftentitel Applied Economics, 41 (2009) 27
DOI http://dx.doi.org/10.1080/00036840701537836
Status Postprint; begutachtet (peer reviewed)
Lizenz PEER Licence Agreement (applicable only to documents from PEER project)
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