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Managerial Dilemmas Gary J. Miller (Washington University, St Louis)

Managerial Dilemmas By Gary J. Miller (Washington University, St Louis)

Summary

Managerial Dilemmas extends the use of analytical techniques from organisational economics to the spheres of organisational culture and leadership in politics and business.

Managerial Dilemmas Summary

Managerial Dilemmas: The Political Economy of Hierarchy by Gary J. Miller (Washington University, St Louis)

In organisation theory a schism has developed between the traditional organisational behaviour literature, based in psychology, sociology and political science, and the more analytically rigorous field of organisational economics. The former stresses the importance of managerial leadership and cooperation among employees, while the latter focuses on the engineering of incentive systems that will induce efficiency and profitability, by rewarding worker self-interest. In this innovative book, Gary Miller bridges the gap between these literatures. He demonstrates that it is impossible to design an incentive system based on self-interest that will effectively discipline all subordinates and superiors and obviate or overcome the roles of political conflict, collective action, and leadership in an organisation. Applying game theory to the analysis of the roles of cooperation and political leadership in organisational hierarchies, he concludes that the organisation whose managers can inspire cooperation and the transcendence of short-term interest in its employees enjoys a competitive advantage.

Managerial Dilemmas Reviews

'Miller gives a very readable and well organized account of the state of the art in the economics of organization. The book can be highly recommended to those who wish to be given a reliable and well-written access to the subject.' Manfred Tietzel, Journal of Institutional and Theoretical Economics
'Interesting reading that is sure to raise new questions.' International Review of Anthropology and Linguistics

Table of Contents

List of tables and figures; Series editors' preface; Acknowledgements; Part I. Why Have Hierarchy?: 1. Market failures and hierarchical solutions: the tension between individual and social rationality; 2. Bargaining failure: coordination, bargaining, and contracts; 3. Voting failure: social choice in a dictatorial hierarchy; Part II. Managerial Dilemmas: 4. Horizontal dilemmas: social choice in a decentralised hierarchy; 5. Vertical dilemmas: piece-rate incentives and credible commitments; 6. Hidden action in hierarchies: principals, agents, and teams; 7. Hidden information in hierarchies: the logical limits of mechanism design; 8. Hierarchical failures and market solutions: can competition create efficient incentives for managers? Part III. Cooperation and Leadership: 9. The possibilities of cooperation: repeated vertical dilemmas; 10. The indeterminacy of cooperation: conventions, culture, and commitments; 11. The political economy of hierarchy: commitment, leadership and property rights; Epilogue: politics, rationality, and efficiency; References; Name index; Subject index.

Additional information

NPB9780521372817
9780521372817
052137281X
Managerial Dilemmas: The Political Economy of Hierarchy by Gary J. Miller (Washington University, St Louis)
New
Hardback
Cambridge University Press
1992-01-31
274
N/A
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
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