Susan L. Miller
Abstract
Abstract Satisficing decisions in organizations may occur when environments are complex and uncertain and when decision‐makers are limited by cognitive capacities and constraints of time, meaning that they operate within a bounded rationality. Satisficing decisions are broadly satisfactory and therefore suffice, although they may not be optimal choices.
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Abstract Satisficing decisions in organizations may occur when environments are complex and uncertain and when decision‐makers are limited by cognitive capacities and constraints of time, meaning that they operate within a bounded rationality. Satisficing decisions are broadly satisfactory and therefore suffice, although they may not be optimal choices.
Key concepts: Satisficing, Bounded rationality, Rationality, Meaning (existential), Bounded function, Economics, Management science, Computer science