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Accounting and Economic Theory

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  • Martin Shubik

    () (School of Management)

Abstract

This paper deals with the changing relationship between economic theory and accounting practice and theory. It argues that many of the basic problems encountered in practice cannot be avoided in any attempt to construct an economic theory adequate to handle dynamics. In particular problems of timing become critical. furthermore, there are several critical problems concerning profit maximization, the nature of the rate of interest, agency problems within the firm and the payment of dividends which cannot be dealt with unless there is an adequate reconciliation of accounting and economic theory.

Suggested Citation

  • Martin Shubik, 2003. "Accounting and Economic Theory," Yale School of Management Working Papers ysm314, Yale School of Management.
  • Handle: RePEc:ysm:somwrk:ysm314
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    More about this item

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General

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