Articles for category: Public Administration, Bounded Rationality, Decision Making Theory, Herbert Simon, Political Science

Decision Making Theory: Herbert Simon and His Concept of Bounded Rationality

Decision making theory propounded by Herbert Simon, known as bounded rationality, posits that human decision makers are bound by limited information and cognitive abilities, leading them to make “satisficing” decisions that are practical rather than seeking the ideal, perfectly rational choice. Introduction In the realm of organizational and administrative theory, Herbert Simon’s rational decision-making approach ...