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

Consideration of the origin of Herbert Simon's theory of “satisficing” (1933‐1947) 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”. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Management Decision Emerald Publishing

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

Management Decision , Volume 42 (10): 17 – Dec 1, 2004

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Publisher
Emerald Publishing
Copyright
Copyright © 2004 Emerald Group Publishing Limited. All rights reserved.
ISSN
0025-1747
DOI
10.1108/00251740410568944
Publisher site
See Article on Publisher Site

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”.

Journal

Management DecisionEmerald Publishing

Published: Dec 1, 2004

Keywords: Decision making; Decision theory; Business administration; History

References