The Edsel: a case study in the economics of discretionary behavior and objectives of a firm
edselcasestudyin00sull.pdf (5.705Mb)Abstract
The history of the Ford Motor Company pertaining to the
Edpel is reviewed in comparison to a theory of the firm, which
suggests a utility maximization vice the classical profit maximization concept. The conclusion is reached and tends to
support the utility maximization concept. Additionally, the
conclusion is reached that the utility maximization concept is
useful only in providing insight in particular cases.
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