In his seminal 1945 essay Hayek argued that the dispersed nature of much commercially relevant knowledge places strong constraints on the feasibility of centralized allocation and coordination mechanisms, but that there remains a problem of making efficient use of such knowledge (the first...

A critical knowledge governance problem concerns the consequences for the use of the authority if the knowledge that is essential in a work setting is partially unknown to the person who is to exercise authority. Is it possible to rationally direct work and activities and efficiently utilize...

Two of Herbert Simon's best-known papers are quot;The Architecture of Complexityquot; and quot;The Structure of Ill-Structured Problems.quot; We discuss the neglected links between these two papers, highlighting the role of decomposition in the context of problems on which constraints have been...

We discuss and examine empirically a firm-level equivalent of the ancient problem of 'tying the King's hands', namely how to avoid managerial intervention that is undertaken to reap private benefits but is harmful to overall value creation, that is, 'managerial opportunism'. The link from...