, Evolution and Economic Theory; and furthered by Geoffrey Manne and Todd Zywicki in their recent paper titled Uncertainty …, Evolution, and Behavioral Economic Theory. Alchian’s thesis relied on an evolutionary understanding of firms’ activities in the … present work concludes that Alchian’s evolutionary theory does not account for the interpretation that economic actors render …

judge service quality ex-ante. Signaling theory suggests that firms may deploy signals such as certification and customer … the variable nature of customer demand. Based on the organization theory literature, formalized procedures and routines …