In Herbert Simon's Administrative Model, decision makers typically choose the most 'satisficing' option.

In Herbert Simon's Administrative Model, decision makers typically choose the most 'satisficing' option.

• A. Optimizing
• B. Satisficing
• C. Maximizing
• D. Heuristics

Answer: (B)

Decision making under bounded rationality leads to satisficing: decision makers search for a solution that is good enough given limited time, information, and cognitive capacity, and they stop once it meets an acceptable standard. This “good enough” approach is what Herbert Simon describes in his Administrative Model. Rather than exhaustively evaluating every option to find the absolute best outcome, they aim for an option that satisfies criteria and is satisfactory, not perfect. Heuristics may help guide the search toward a satisfactory choice, but the defining idea is preferring a solution that suffices over one that is optimally perfect.

Decision making under bounded rationality leads to satisficing: decision makers search for a solution that is good enough given limited time, information, and cognitive capacity, and they stop once it meets an acceptable standard. This “good enough” approach is what Herbert Simon describes in his Administrative Model. Rather than exhaustively evaluating every option to find the absolute best outcome, they aim for an option that satisfies criteria and is satisfactory, not perfect. Heuristics may help guide the search toward a satisfactory choice, but the defining idea is preferring a solution that suffices over one that is optimally perfect.