Publications
Publications
- January 2014 (Revised November 2015)
- HBS Case Collection
Rational Choice and Managerial Decision-Making
By: Willy Shih
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.)