Difference between revisions of "Bounded rationality"
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==Definitions== | ==Definitions== | ||
According to [[Organizational Behavior by Robbins and Judge (17th edition)]], | According to [[Organizational Behavior by Robbins and Judge (17th edition)]], | ||
| − | + | :[[Bounded rationality]]. A process of making decisions by constructing simplified models that extract the essential features from problems without capturing all their complexity. | |
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| + | According to [[Management by Robbins and Coulter (14th edition)]], | ||
| + | :[[Bounded rationality]]. [[Decision-making]] that is rational, but limited (bounded) by an individual's ability to process information. | ||
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==Related concepts== | ==Related concepts== | ||
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*[[Individual Decisions Quarter]]. | *[[Individual Decisions Quarter]]. | ||
| − | [[Category: Septem Artes Administrativi]][[Category: Articles]] | + | [[Category:Management]][[Category: Septem Artes Administrativi]][[Category: Articles]] |
Revision as of 18:02, 31 May 2020
Bounded rationality is a process of making decisions by constructing simplified models that extract the essential features from problems without capturing all their complexity.
Definitions
According to Organizational Behavior by Robbins and Judge (17th edition),
- Bounded rationality. A process of making decisions by constructing simplified models that extract the essential features from problems without capturing all their complexity.
According to Management by Robbins and Coulter (14th edition),
- Bounded rationality. Decision-making that is rational, but limited (bounded) by an individual's ability to process information.
