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  • January 2014 (Revised November 2015)
  • Background Note
  • HBS Case Collection

Rational Choice and Managerial Decision-Making

By: Willy Shih
  • Format:Print
  • | Language:English
  • | Pages:8
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Abstract

This note discusses Herbert Simon's notion of bounded rationality: how managers may sometimes make suboptimal choices because of their limited ability to access or process information.

Keywords

Rational Choice; Bounded Rationality; Satisficing; Herbert Simon; Agenda-setting; Choice; Alternatives; Decision Making; Decision Choices and Conditions; Decisions; Judgments

Citation

Shih, Willy. "Rational Choice and Managerial Decision-Making." Harvard Business School Background Note 614-048, January 2014. (Revised November 2015.)
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About The Author

Willy C. Shih

Technology and Operations Management
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Related Work

    • January 2014 (Revised November 2015)
    • Faculty Research

    Rational Choice and Managerial Decision-Making

    By: Willy Shih
Related Work
  • Rational Choice and Managerial Decision-Making By: Willy Shih
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