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The Economics of Choice, Change and Organization

Essays in Memory of Richard M. Cyert Edited by Mie Augier, Associate Professor of Economics, Naval Postgraduate School, US and the late James G. March, formerly Professor Emeritus, Stanford University, US
This collection of original essays has been commissioned especially for this volume in honour of the ideas and work of the late Richard M. Cyert who made a seminal contribution to the fields of industrial organization and change. In keeping with the range and significance of his work, the essays in this book examine the economics of decision making, uncertainty, information processing, learning, evolution and organizational structure.
Extent: 480 pp
Hardback Price: $202.00 Web: $181.80
Publication Date: 2002
ISBN: 978 1 84064 321 3
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Paperback Price: $79.00 Web: $63.20
Publication Date: 2004
ISBN: 978 1 84376 843 2
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  • Economics and Finance
  • Evolutionary Economics
  • Industrial Organisation
This collection of original essays has been commissioned especially for this volume in honour of the ideas and work of the late Richard M. Cyert who made a seminal contribution to the fields of industrial organization and change. In keeping with the range and significance of his work, the essays in this book examine the economics of decision making, uncertainty, information processing, learning, evolution and organizational structure.

The distinguished set of contributors discusses the following topics:

• behavioural and evolutionary theories of the firm
• cognitive factors in organization and economic action
• the place of rules in organizations
• learning from experience and from the knowledge of others
• selection in economic change
• the impact of information technology and the evolution of organizational forms.

This coherent and worthy collection emphasizes the adaptive nature of economic action and the links between economies and studies of human information processing and action. It will be essential reading for scholars with an interest in behavioural and adaptive economics, along with industrial organization.
‘The present volume – a major tribute collection in memory of Richard Cyert, co-edited by James March, and containing a paper by the late Herbert Simon – provides a useful roadmap of the influences this group has had on both heterodox and more mainstream thought. . . this book belongs in every university library.’
– Richard N. Langlois, Journal of Economic Literature

‘This collection is useful reading for scholars working in behavioral and adaptive economics, as well as information processing and learning in organizations. Overall, the essays offer an overview of the state of the art in behavioral and evolutionary theories of the firm and some very interesting new insights.’
– Sampsa Samila, Administrative Science Quarterly
Contributors: M. Augier, J.A.C. Baum, C.S. Boerner, P. Bromiley, W.W. Cooper, R. Danell, R.H. Day, G. Dosi, M. Egidi, L. Engwall, L. Fleming, P. Ingram, S.-H. Kang, A. Kieser, U. Koch, P. Kumar, D.A. Levinthal, B.J. Loasby, F. Malerba, J.G. March, J.M. Mezias, A.S. Miner, R. Nelson, L. Orsenigo, J.L. Pierce, T. Rura-Polley, S.R. Salgado, S. Seshadri, Z. Shapira, H.A. Simon, W.H. Starbuck, D.J. Teece, O.E. Williamson, S.G. Winter
Contents: Preface Introduction Part I: Economics of Choice Part II: Information and the Cognitive Basis of Action Part III: Economics of Change Part IV: Economics of Organization Index