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We propose a modal action logic that combines ideas from H.A. Simon's bounded rationality, Stalnaker's minimal change and more recent approaches to update semantics. ALX (the xth action logic) is sound, complete and decidable, making it the first complete logic for two-place preference operators. ALX avoids important drawbacks of other action logics,(More)
Various patterns of age dependence in hazards of organizational failure have been documented: liabilities of newness, adolescence and obsolescence. Prior efforts at providing a unified theory that can accommodate these patterns as special cases have not dealt properly with obsolescence. We tackle this problem by proposing a new model that builds on the most(More)
This paper proposes a distance-based characterization of age-related structural inertia as an increasing constraint on the speed of change as organizations age. Our framework regards organizations as points in multi-dimensional metric spaces of architectures. Organizational change means movement in this space. The speed of change is the ratio of the(More)
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