New South Wales

Economic Stories of the Agri-foods Firm


From: Thursday November 27, 2014, 5:00 pm

To: Thursday November 27, 2014, 8:00 pm

A practitioner’s perspective on the dismal science, with Jay Horton giving an outsider’s perspective of the profession from the inside.  Jay asks: Which economic models best explain what’s going on in the world of agri-food firms? Axel Leijonhufvud, the Swedish economist, once remarked that neoclassical economics models “smart people in unbelievably simple situations,” while the real world involves “simple people [coping] with incredibly complex situations”. Do the overlapping narratives of microeconomics, behavioural economics, principal-agency economics, and transaction cost economics explain what’s going on inside firms? How is the work of modern thinkers relevant to the agri-foods firm: economists such as Ronald Coase, Oliver Williamson, and Bengt Holmström; management scientists such as Chester Barnard, George Dantzig and Herbert Simon, and writers such as Søren Kierkegaard and Franz Kafka? Jay will recount stories of applying economics in his 30-year consulting career advising Boards and
  • management on how to adapt to change, which is the central problem of economic organisation:
  • Making complex resource allocation decisions under uncertainty – major capital
  • investment/divestment decisions, or restructuring, or M&A;
  • Deciding how to cope with growth – adding capacity, or doing more with what’s available; and
  • Determining the best strategy when there are many choices available.…..
 Jay Horton is the Founder and Managing Director of Strategis Partners, which advises on complex strategic and organisational change initiatives. The Firm’s expertise lie in the use of strategic decision analysis, mathematical programming for modelling supply chains, and dealing with risk and uncertainty using real options and scenario planning. He is a former Partner of PricewaterhouseCoopers, with McKinsey & Company, Managing Director of management consultancy ORG, and Australian Volunteer Abroad in South East Asia. Jay is an occasional guest lecturer at the Australian School of Management, The University of Sydney and the Macquarie Graduate School of Management. This will also be our Xmas function with drinks and finger food, when we look forward to seeing old friends from outside AARES. Please consider joining us! Details:  Thursday 27 November 2014 Seminar 5:30 – 6:30pm **Followed by Christmas party till 8pm** The Boardroom, GHD Pty Ltd,  Level 15, 133 Castlereagh St, Sydney (Piccadilly Tower) Essential to RSVP ASAP to the Secretary: For more information visit:

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