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Herbert Simon’s bounded rationality

Herbert Simon’s bounded rationality PurposeThe purpose of this paper is to investigate the historical advancements attained on the bounded rationality concept in management research, considering the key influencing discoveries in related fields. Understanding the cross-fertilization that has occurred is the first step to go beyond the current knowledge on bounded rationality and to face its challenges.Design/methodology/approachThe adopted method is historical. This research approach helps to explain the evolution of a widespread concept in a scientific field and, particularly, to identify the parallel influencing advancements made in related domains.FindingsInvestigation of the irrational forces of human reasoning is at the centre of today’s research agenda on rationality in organizations, claiming to be an extension of the original bounded rationality concept. In this regard, scholars should commit themselves to build a more holistic approach to the investigation of human rationality, conjointly applying socio-biological and behavioural perspectives to explain the real behaviour of people in organizations and society. This reconnection will also help to overcome the inner limits of some “fashion of the month” streams that have yet to demonstrate their contribution.Originality/valueThis is the first study that offers an overall historical evolution of the bounded rationality concept which considers both management research and developments in related fields. The historically educed lessons learned are at the basis of the concluding recommendations for future research. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Management History Emerald Publishing

Herbert Simon’s bounded rationality

Cristofaro, Matteo
Journal of Management History , Volume 23 (2): 21 – Apr 10, 2017
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Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
1751-1348
DOI
10.1108/JMH-11-2016-0060
Publisher site
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Abstract

PurposeThe purpose of this paper is to investigate the historical advancements attained on the bounded rationality concept in management research, considering the key influencing discoveries in related fields. Understanding the cross-fertilization that has occurred is the first step to go beyond the current knowledge on bounded rationality and to face its challenges.Design/methodology/approachThe adopted method is historical. This research approach helps to explain the evolution of a widespread concept in a scientific field and, particularly, to identify the parallel influencing advancements made in related domains.FindingsInvestigation of the irrational forces of human reasoning is at the centre of today’s research agenda on rationality in organizations, claiming to be an extension of the original bounded rationality concept. In this regard, scholars should commit themselves to build a more holistic approach to the investigation of human rationality, conjointly applying socio-biological and behavioural perspectives to explain the real behaviour of people in organizations and society. This reconnection will also help to overcome the inner limits of some “fashion of the month” streams that have yet to demonstrate their contribution.Originality/valueThis is the first study that offers an overall historical evolution of the bounded rationality concept which considers both management research and developments in related fields. The historically educed lessons learned are at the basis of the concluding recommendations for future research.

Journal

Journal of Management History – Emerald Publishing

Published: Apr 10, 2017

References

  • Untangling self-reinforcing processes in managerial decision making: co-evolving heuristics?
  • Arthur Stinchcombe’s ‘liability of newness’: contribution and impact of the construct
  • Intuition in management research: a historical review
  • Le comportement de l’homme rationnel devant le risque, critique des postulats et axiomes de l’ecole americaine
  • The emerging paradigm of strategic behavior
  • The structure of management decision theory
  • Behavioral theory of the firm – 40 years and counting: introduction and impact