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Whereas economic man maximizes - selects the best alternative from among all those available to him, his cousin, administrative man, satisfices - loo… - Herbert Simon
" "Whereas economic man maximizes - selects the best alternative from among all those available to him, his cousin, administrative man, satisfices - looks for a course of action that is satisfactory or "good enough."
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About Herbert Simon
Herbert Alexander Simon (June 15, 1916 – February 9, 2001) was an American political scientist whose research ranged across the fields of cognitive psychology, computer science, public administration, economics, management, philosophy of science and sociology and was a professor, most notably, at Carnegie Mellon University. With almost a thousand often very highly cited publications he is one of the most influential social scientists of the 20th century.
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Native Name:
Herbert A. S
Alternative Names:
Herbert A. Simon
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Herbert Alexander Simon
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Additional quotes by Herbert Simon
The function of knowledge in the decision-making process is to determine which consequences follow upon which of the alternative strategies. It is the task of knowledge to select from the whole class of possible consequences a more limited subclass, or even (ideally) a single set of consequences correlated with each strategy.
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