Managerial and Decision Economics will publish articles applying economic reasoning to managerial decision-making and management strategy.Management strategy concerns practical decisions that managers face about how to compete, how to succeed, and how to organize to achieve their goals. Economic thinking and analysis provides a critical foundation for strategic decision-making across a variety of dimensions. For example, economic insights may help in determining which activities to outsource and which to perform internally. They can help unravel questions regarding what drives performance differences among firms and what allows these differences to persist. They can contribute to an appreciation of how industries, organizations, and capabilities evolve. They can help managers cope with the complexities and uncertainties of a dynamic competitive environment. Compared to other journals in economics, the focus of this journal is more normative than positive and the viewpoint is focused on managerial efficiency and firm profitability rather than on social welfare. Articles are welcomed from economists,strategists, and others using economic reasoning in analyzing business problems. The journal is open to a variety of economic theoretical perspectives, including transaction cost theory, evolutionary theory, resource-based theory, agency theory, game theory, and behavioral decision theory. The journal will publish articles from all of the functional areas of economics, as long as these articles are useful for managerial decision-making, and from all the functional areas of business, so long as the articles use economic reasoning.
Some examples: Articles in law and economics may use economic insights to discuss ways in which firms can respond to legal problems. Discussions of regulation or of public choice may highlight ways in which firms can influence or adapt to government regulation. Articles on public finance will emphasize reactions of firms to issues of taxation. Consumer theory may be applied to marketing decisions. Articles may stress ways in which firms can better adapt to labor markets and may provide economic bases for personnel policies. Analyses of industrial organization problems may suggest strategic policies for firms. Economics may be used to analyze accounting issues. Economics may be used to explain the existence and structure of organizations.
The journal particularly welcomes articles with an international focus, or articles that analyze issues and markets from a non-American perspective. Issues pertaining to global strategy and the management of a multinational enterprise are of interest.
Articles in the journal will serve three related purposes. First, and of primary importance, is the advancement of knowledge of managerial economics. The second is the dissemination of useful pedagogical ideas. Finally, practitioners will also find the journal useful.
While the editors will consider articles of any level of sophistication, they will not be interested in technique for its own sake. In all cases, the idea behind an article will be of more importance than the methods of analysis. The journal will even be willing to publish articles written only in words if the ideas are themselves interesting and important.
The editors will attempt to offer rapid turnaround, and will try to have responses to authors within two months of the receipt of the submission. Since the journal is published in 8 issues, publication is also rapid.