Toward an Economic Theory of Leadership: Leading by Exampledoi:10.2139/ssrn.15570This paper explores leadership within organizations. Leadership is distinct from authority because following a leader is a voluntary rather than coerced activitSocial Science Electronic Publishing
Economic equilibrium is the result of opposing economic variablesgravitatingtowards their natural state. In economics – which is the study of economies or the methods and organization of the production, distribution, and consumption of goods and services – the market-based economy is one in which ...
Behavioral economics is a method of economic analysis that considers psychological insights to explain human behavior as it relates to economic decision-making. According to rational choice theory, the rational person has self-control and is unmoved by emotional factors. However, behavioral economics ack...
Hence, the observed capital structures of companies frequently deviate from the optimal capital structure that should be targeted, contrary to the theories taught in academia (i.e. mismatch between economic theory and reality). The theory also highlights the importance of historical profitability as on...
The cross elasticity of demand is an economic concept that measures the responsiveness in the quantity demanded of one good when the price for another one changes. The cross elasticity of demand for substitute goods is always positive because the demand for one good increases when the price for ...
Economic theory yields strong implications for the actual behavior of individuals. In the standard utility maximization model for instance, economic theory places strong restrictions on individual responses to changes in prices and wealth, the so-called integrability constraints. These restrictions are inher...
What is Arbitrage Pricing Theory (APT)? Exploring Scope of Managerial Economics Key Account Manager: Job Description Nash Equilibrium: Definition, Examples, and Real-World Applications How to Conduct Business Research: A Comprehensive Introduction Top 10 Qualities of a Good Salesman Difference Between He...
This part of your dissertation forms the basis for your analysis, aiding in interpreting results and making broader conclusions. The theoretical framework also makes the research more trustworthy. It shows that the study is built on a solid understanding of the theory and clear concepts. ...
The theory of price is an economic theory that states that the price of a good or service is based on the relationship between its supply and demand.
The branch of economic theory called welfare economics is an example of normative economics. The leading thinkers in this area early on were Abram Bergson and Nobel Prize-winning economist Kenneth Arrow. The Bottom Line Economics is considered an art and a science, because it combines the use of...