Fallibility in Human Organizations and Political Systems
This paper presents a perspective on some organizational consequences of human fallibility. It may be easier to get a flavor of the relevant issues by examining the role of fallibility in specific settings, rather than through abstract arguments. So, in the next three sections, I consider several different settings: the question of diversification versus concentration of political authority, the managerial succession process in organizations, and the choice of ideas and projects (including innovation-oriented projects) in organizations. In the last section, I highlight some aspects of the approach underlying the analyses of human fallibility, in particular: the premises concerning an individual decisionmaker, the potential association between the motivation of an organization's employees and their fallibility, and the nature and the aims of the analysis of organizations.
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Volume (Year): 5 (1991)
Issue (Month): 2 (Spring)
Pages: 67-88
| Handle: | RePEc:aea:jecper:v:5:y:1991:i:2:p:67-88 |
| Note: | DOI: 10.1257/jep.5.2.67 |
| Contact details of provider: | Web page: https://www.aeaweb.org/jep/ Email: More information through EDIRC
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References listed on IDEAS
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- Koh, Winston T. H., 1992. "Human fallibility and sequential decision making : Hierarchy versus polyarchy," Journal of Economic Behavior & Organization, Elsevier, vol. 18(3), pages 317-345, August.
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- Baker, George P & Jensen, Michael C & Murphy, Kevin J, 1988. " Compensation and Incentives: Practice vs. Theory," Journal of Finance, American Finance Association, vol. 43(3), pages 593-616, July.
- Baker, G.P. & Jensen, M.C. & Murphy, K.J., 1988. "Compensation And Incentives: Practice Vs. Theory," Papers 88-05, Rochester, Business - Managerial Economics Research Center.
- Joesph E. Stiglitz, 1975. "Incentives, Risk, and Information: Notes Towards a Theory of Hierarchy," Bell Journal of Economics, The RAND Corporation, vol. 6(2), pages 552-579, Autumn.
- Rose-Ackerman, Susan, 1986. "Reforming Public Bureaucracy through Economic Incentives?," Journal of Law, Economics and Organization, Oxford University Press, vol. 2(1), pages 131-161, Spring.
- Bull, Clive & Ordover, Janusz A., 1987. "Market Structure and Optimal Management Organizations," Working Papers 87-28, C.V. Starr Center for Applied Economics, New York University.
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- Black, Fischer & Scholes, Myron S, 1973. "The Pricing of Options and Corporate Liabilities," Journal of Political Economy, University of Chicago Press, vol. 81(3), pages 637-654, May-June.
- Sherwin Rosen, 1982. "Authority, Control, and the Distribution of Earnings," Bell Journal of Economics, The RAND Corporation, vol. 13(2), pages 311-323, Autumn. Full references (including those not matched with items on IDEAS)
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