HUMAN BEHAVIOUR COMPLEXITY AND THEORIES OF INDUSTRIAL LOCATION: AN INSIGHT INTO MAXIMIZATION CUM OPTIMIZATION ECONOMIC INCLINATION

The paper examined the behavioural influence on locational pattern of economic activities as against the theoretical approach commonly emphasized as the basis for locating a business. The maxmaization cum optimization economic inclination has been rightly controlling the locational pattern of industries due to complexity of human behaviour. Data were collected from the secondary source of data through extensive literature search. Different locational theories and models were reviewed. Most of them place importance on assumptions which could not be applied in the real business world. They were only developed to gain general understanding of location factors and patterns but could not test theories. It was revealed that the application of locational theories and models would require extensive data collection which might not be easy to gather. The actual locational patterns could not be adequately replicated and completely explained by any theory due to human behaviour complexity. The paper put up a recommendation that in this ageof globalization more and meaningful data should be collected to strengthen intuitive knowledge on how industrial prosperity could be sustained.