Skip to content

Roughly speaking, rationality is concerned with the selection of preferred behavior alternatives in terms of some system of values, whereby the consequences of behavior can be evaluated.

— Herbert A. Simon

Another quote →

More quotes by Herbert A. Simon

The function of knowledge in the decision-making process is to determine which consequences follow upon which of the alternative strategies.

The criterion of efficiency dictates that choice of alternatives which produces the largest result for the given application of resources.

The behaviour of individuals is the tool with which the organisation achieves its targets.

Decision making processes are aimed at finding courses of action that are feasible or satisfactory in the light of multiple goals and constraints.

We need to augment and amend the existing body of classical and neoclassical economic theory to achieve a more realistic picture of economic process.

Herbert A. Simon (1986)

All Herbert A. Simon quotes →

Attribution

Quote text and notes from Wikiquote: Herbert A. Simon (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.