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Journal cover: Management Decision

Management Decision

ISSN: 0025-1747
Incorporates: Journal of Management History (Archive)

Online from: 1967

Subject Area: Management Science/Management Studies

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Consideration of the origin of Herbert Simon's theory of “satisficing” (1933-1947)

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Title:Consideration of the origin of Herbert Simon's theory of “satisficing” (1933-1947)
Author(s):Reva Brown, (Oxford Brookes University Business School, Oxford, UK)
Citation:Reva Brown, (2004) "Consideration of the origin of Herbert Simon's theory of “satisficing” (1933-1947)", Management Decision, Vol. 42 Iss: 10, pp.1240 - 1256
Keywords:Business administration, Decision making, Decision theory, History
Article type:General review
DOI:10.1108/00251740410568944 (Permanent URL)
Publisher:Emerald Group Publishing Limited
Abstract:Herbert Simon's major contribution to decision-making theory is the concept of “satisficing”. This was first posited in Administrative Behavior, published in 1947, and the book, concerned as it was with establishing a scientific approach to administrative theory, puts forward an adjustment of then-current economic theory, which viewed administrative choice as a process of maximising. While, over the ensuing decades, Simon adjusted his definitions of both “economic man” and of “satisficing” in several subsequent publications, the original exposition of these was a major contribution to the area of administrative theory. An attempt has been made here to explore what circumstances might have led Simon into putting forward the concept of “satisficing”.

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