Information and decision making: a search for method and understanding

Article Abstract:

A study was conducted to examine the process of information search in business and to evaluate related research on the topic. The value for money and the importance of business efficiency were established as vital requirements needed to succeed in competitive markets. However, information related to the decision making process has not been given focus. Thus, research on information's role in competition has been progressing.

Research, Economics, Information theory, Information theory in economics

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Capital budgeting with technology choice and demand fluctuations in a simple manufacturing model: sample calculations and observations on output flexibility

Article Abstract:

A study was conducted to examine capital budgeting with technology choice and demand fluctuations. Results show that errors from the application of such budgeting system are generated when fixed costs are unitized and expected idle capacity is not regulated. The expected average cost E(AC) must be used by managers and accountants in standard-cost systems. The E(AC) can be used to determine appropriate budgeting levels.

Capital budgets

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The economics of decision making in the new manufacturing firm

Article Abstract:

A study was conducted to assess the applicability of the Theory of the Firm to manufacturing firms which produce heterogenous goods and comply with deadlines. The decision process is shown to be simplified under constant optimal budget allocations for several orders of a group of products. Research indicates that heuristic decision rules provide the medium by which a decision process assumes economic logic.

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