In this paper some of the diﬀiculties in utilizing much of economic theory as an aid to the study of decision-making at the level of the ﬁrm are reviewed. New theories, techniques and experimentation aimed at overcoming these diﬀiculties are then discussed. The area covered is, of necessity, broad. No attempt is made to provide more than an indication of the type of work in progress and the nature of the problem to which it is addressed. References are supplied for those wishing a more detailed exposition of the many topics noted here.