Research into "Economics of Business" applies microeconomic concepts
to management problems. Among these economic tools are contract
theory, game theory, bounded rationality, and the experimental test
of theoretical insights. Research into "Law and Economics" uses the
same tools to analyze the impact of legal institutions on interactive
behavior. The results of this positive analysis can be used to derive
recommendations regarding the design of better laws.
Managers have to cope with internal incentives, with external
relations to competitors and factor suppliers, and with the design of
the legal environment. Therefore, the research projects can be
grouped into three categories: organization, markets, and politics.
Organization
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