MANAGERIAL UTILITY FUNCTION AND ITS IMPACT ON DECISION-MAKING IN THE COMPANY

被引：0

作者：

Petricek, Martin ^{[1
,2
]}

机构：

[1] Inst Hospitality Management Prague, Dept Econ & Econ, Prague, Czech Republic

[2] Inst Hospitality Management Prague, Svidnicka 506-1, Prague 18100 8, Czech Republic

来源：

KNOWLEDGE FOR MARKET USE 2017: PEOPLE IN ECONOMICS - DECISIONS, BEHAVIOR AND NORMATIVE MODELS | 2017年

关键词：

Decision-making process; Utility function; Managerial behaviour; Baumol's model; Williamson's model;

D O I：

暂无

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper focuses on the comparison of current theories of the firm, which are further used as inputs for the managerial utility function. The quantification of this function is also based on the principal-agent problem. The individual approaches to the problem of firm's theory are represented by Baumol's and Williamson's model, whose mathematical expression of maximization utility benefits is implemented into one function of the managerial utility, as the main output of this paper. The result is the function of utility, which depend on four variables (total revenue, employee expenses, minor benefits and personal preferences). In addition, the paper represents a possible implementation of this function into the company's decision-making process. The assumption for this implementation is multiple-criteria decision analysis (MCDA). The paper uses the principles of multiple-criteria decision making, especially Saaty's matrix.

引用

页码：747 / 752

页数：6