Richard Cyert - A Behavioral Theory of the Firm (1963)

4 Sourced Quotes

View all Richard Cyert Quotes

Rational actors are significantly constrained by limitations of information and calculation.

Richard Cyert

In general, success tends to breed slack. One of the main consequences of slack is a muting of problems of resource scarcity. Slack provides a source of funds for innovations that would not be approved in the case of scarcity but that have strong subgroup support.

Richard Cyert

Relatively unsuccessful firms would be more likely to innovate than relatively successful firms.

Richard Cyert

We believe that, in order to understand contemporary economic decision making, we need to supplement the study of market factors with an examination of the internal operation of the firm – to study the effects of organizational structure and conventional practice on the developments of goals, the formation of expectations, and the execution of choices.

Richard Cyert