MANAGERIAL UTILITY FUNCTION AND ITS IMPACT ON DECISION-MAKING IN THE COMPANY
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F25619161%3A_____%2F17%3AN0000047" target="_blank" >RIV/25619161:_____/17:N0000047 - isvavai.cz</a>
Result on the web
<a href="http://knowledgeconference.upol.cz/downloads/2017-Knowledge_for_Market_Use_Proceedings.pdf" target="_blank" >http://knowledgeconference.upol.cz/downloads/2017-Knowledge_for_Market_Use_Proceedings.pdf</a>
DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
MANAGERIAL UTILITY FUNCTION AND ITS IMPACT ON DECISION-MAKING IN THE COMPANY
Original language description
This paper focuses on the comparison of current theories of the firm, which are further used as inputs for the managerial utility function. The quantification of this function is also based on the principal-agent problem. The individual approaches to the problem of firm's theory are represented by Baumol's and Williamson's model, whose mathematical expression of maximization utility benefits is implemented into one function of the managerial utility, as the main output of this paper. The result is the function of utility, which depend on four variables (total revenue, employee expenses, minor benefits and personal preferences). In addition, the paper represents a possible implementation of this function into the company's decision-making process. The assumption for this implementation is multiple-criteria decision analysis (MCDA). The paper uses the principles of mul tiple-criteria decision making, especially Saaty's matrix.
Czech name
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
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OECD FORD branch
50204 - Business and management
Result continuities
Project
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Continuities
N - Vyzkumna aktivita podporovana z neverejnych zdroju
Others
Publication year
2017
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
KNOWLEDGE FOR MARKET USE 2017: PEOPLE IN ECONOMICS – DECISIONS, BEHAVIOR AND NORMATIVE MODELS
ISBN
978-80-244-5233-3
ISSN
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e-ISSN
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Number of pages
7
Pages from-to
747-753
Publisher name
Univerzita Palackého v Olomouci
Place of publication
Olomouc
Event location
Olomouc
Event date
Jan 1, 2017
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
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