If i have to explain any alternative theory of firm's equilibrium because of the basic problems of marginalistic approach... would it be best to explain behavioural theory
Alternative theories of the firms diverge from the traditional theories of the firms and criticise the marginalist principles. So whenever you are talking about any Alternative theories of the firms, as in Baumol, Williamson, Marris, Cyert and March models etc., these models explain different factors such as institution economics, behavioural economics etc. So, to answer your query, indeed, we can explain behavioural theory as a factor, when we are dealing with alternative theories of the firms.
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If i have to explain any alternative theory of firm's equilibrium because of the basic problems of marginalistic approach... would it be best to explain behavioural theory
Alternative theories of the firms diverge from the traditional theories of the firms and criticise the marginalist principles. So whenever you are talking about any Alternative theories of the firms, as in Baumol, Williamson, Marris, Cyert and March models etc., these models explain different factors such as institution economics, behavioural economics etc. So, to answer your query, indeed, we can explain behavioural theory as a factor, when we are dealing with alternative theories of the firms.