The alternative theories of firms´ market behavior

The work gives a concise review and critical analysis of the so-called alternative theories of firm behavior. The review includes: a) theory of output pricing in conditions of uncertainty when the target function is not profit maximization; b) considering possibilities of management to carry out business policy outside the owner´s interests; c) considering firm behavior when management chooses alternative targets of maximization; d) analyzing the problem causing business efficiency decline because of the uncertainty of some internal process in the firm; and e) researching firm behavior striving to realize “satisfying results”.