Bounded Rationality

Bounded Rationality

When faced with a complex problem, most people respond by reducing the problem to a level at which it can be readily understood. This is because the limited information processing capability of human beings makes it impossible to assimilate and understand all the information necessary to optimize. So people satisfy themselves that is, they seek

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Perception and Individual Decision Making

The Link Between Perception and Individual Decision Making

Individuals in organizations make decisions and hence they make choices among two or more alternatives. Making decisions is not the safe province of managers. Nonmanagerial employees also make decisions that affect their jobs/the organizations for which they work. An increasing number of organizations in recent years have been empowering their non-managerial employees with job related

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