“[The decisionmaking role of the firm has progressed from the neoclassical standpoint of profit maximization to sales maximization, utility maximization, and satisficing. From the Operation Research point of view] …the ideal picture is that someone, presumable the firm that hires the operations researcher, hands him, on a silver platter, an objective function. By talking to the engineers, or by looking into a few scientific laws, he determines the policy alternatives available and also the model”

— Kenneth Arrow

Source: 1970s-1980s, The Economics of Information (1984), p. 55 as cited in: Demetri Kantarelis (2008) " Book Review: Title: Theories Of The Firm 2nd Edition http://www.inderscience.com/books/TOF_american_econ_review.pdf". In: The American economist. Vol 52, Nr 1. p. 117

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Kenneth Arrow 37

American economist 1921–2017

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