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- W1966205346 abstract "This paper proposes and tests a decision-making process of entrepreneurs. History of many industries shows that rapid changes in technology, accompanied by large investments and accumulations of capital occur. One production method is replaced by another as newer cost reducing techniques become available. It seems that the fate of any particular production technique can be better understood in the context of such dynamic factors as changes in technical knowledge, factor prices, demand composition together with decision-making process of the entrepreneurs.A recursive programming technique is presented that reflects the fact that entrepreneurial decisions are conditioned by interaction between technical, economic, and non-economic factors. Recursive programming technique is a recent addition to the inventory of decision-making analysis. This method is applied to the Japanese Iron and Steel Industry. Results suggest that this technique is a very promising tool of decision-making analysis." @default.
- W1966205346 created "2016-06-24" @default.
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- W1966205346 date "1972-07-01" @default.
- W1966205346 modified "2023-09-25" @default.
- W1966205346 title "A POSITIVE DYNAMIC APPROACH TO INDUSTRIAL DECISION-MAKING PROCESSES" @default.
- W1966205346 cites W2015806472 @default.
- W1966205346 doi "https://doi.org/10.1111/j.1540-5915.1972.tb00545.x" @default.
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