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Predictably Irrational: The Hidden Forces That Shape Our Decisions is a 2008 book by Dan Ariely, in which he challenges readers' assumptions about making decisions based on rational thought. Ariely explains, "My goal, by the end of this book, is to help you fundamentally rethink what makes you and the people around you tick.
Mr. Market is an allegory created by investor Benjamin Graham to describe what he believed were the irrational or contradictory traits of the stock market and the risks of following groupthink. [ 1 ] [ 2 ] [ 3 ] Mr. Market was first introduced in his 1949 book, The Intelligent Investor .
According to the property rights approach to the theory of the firm based on incomplete contracting, the ownership structure (i.e., integration or non-integration) determines how the returns to non-contractible investments will be divided in future negotiations. Hence, whether or not outsourcing an activity to a different firm is optimal ...
Irrational exuberance" is the phrase used by the then-Federal Reserve Board chairman, Alan Greenspan, in a speech given at the American Enterprise Institute during the dot-com bubble of the 1990s. The phrase was interpreted as a warning that the stock market might be overvalued.
Irrational behavior can be useful when used tactically in certain conflict, game and escape situations. The moves of an irrational opponent are not (or only very limitedly) predictable. An irrational negotiator cannot be put under rational pressure. [52] An indirect tactic is the rational use of the irrationalism of third parties.
When ownership and control is divided within a company, agency costs arise. However agency costs decline if the ownership within the company increases as managers are responsible for a larger shares of these costs. On the other hand, giving ownership to a manager within a company may translate into greater voting power which makes the manager's ...
Because ownership is a key part of business planning, it is essential to take into consideration: The legal obligations for the owners. Appropriate insurance. Financial forecasting. The three main forms of ownership for starting business are: Sole-trader, Partnership and Limited Company.
The Modern Corporation and Private Property is a book written by Adolf Berle and Gardiner Means published in 1932 regarding the foundations of United States corporate law.It explores the evolution of big business through a legal and economic lens, and argues that in the modern world those who legally have ownership over companies have been separated from their control.