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Theories of Satisficing Behaviour

In: The Theory of the Firm

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  • P. J. Curwen

Abstract

We have already referred on several occasions to the need for a firm to earn sufficient profits in order to satisfy its shareholders. In those cases we regarded satisfactory profits as an objective which ran alongside, but which was subsidiary to, other objectives. There are, however, a number of theories which regard the achievement of satisfactory profits as the firm’s primary objective, this objective replacing that of profit maximisation which is regarded as impossible of achievement in a world of uncertainty.

Suggested Citation

  • P. J. Curwen, 1976. "Theories of Satisficing Behaviour," Palgrave Macmillan Books, in: The Theory of the Firm, chapter 0, pages 135-139, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-15645-0_20
    DOI: 10.1007/978-1-349-15645-0_20
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