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Control in Large Organizations

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Author Info

  • Kenneth J. Arrow

    (Stanford University and Churchill College, Cambridge, England)

Abstract

The problem of control is defined as that of choosing operating rules for members of an organization and enforcement rules for the operating rules so to maximize the organization's objective function. The control problem is sketched for three characteristic types of large organizations: large corporations, governments in their budgetary aspects, and economic systems as a whole. The essential roles of uncertainty and of differential amounts of information in different parts of an organization in the problem of control are brought out. The merits and drawbacks of the price system as a control mechanism are discussed in light of the preceding discussion, with especial reference to the effects of uncertainty.

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File URL: http://dx.doi.org/10.1287/mnsc.10.3.397
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Bibliographic Info

Article provided by INFORMS in its journal Management Science.

Volume (Year): 10 (1964)
Issue (Month): 3 (April)
Pages: 397-408

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Handle: RePEc:inm:ormnsc:v:10:y:1964:i:3:p:397-408

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Cited by:
  1. Sturgeon, Timothy J., 1997. "Turnkey Production Networks: A New American Model of Industrial Organization?," UCAIS Berkeley Roundtable on the International Economy, Working Paper Series qt2095c9d0, UCAIS Berkeley Roundtable on the International Economy, UC Berkeley.
  2. Menard, Claude, 1995. "Markets as institutions versus organizations as markets? Disentangling some fundamental concepts," Journal of Economic Behavior & Organization, Elsevier, vol. 28(2), pages 161-182, October.
  3. Sturgeon, Timothy J., 1997. "Does Manufacturing Still Matter? The Organizational Delinking of Production from Innovation," UCAIS Berkeley Roundtable on the International Economy, Working Paper Series qt2g22d9d2, UCAIS Berkeley Roundtable on the International Economy, UC Berkeley.

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