Consideration of the origin of Herbert Simon's theory of “satisficing” (1933-1947)

Abstract

Herbert Simon's major contribution to decision-making theory is the concept of “satisficing”. This was first posited in Administrative Behavior, published in 1947, and the book, concerned as it was with establishing a scientific approach to administrative theory, puts forward an adjustment of then-current economic theory, which viewed administrative choice as a process of maximising. While, over the ensuing decades, Simon adjusted his definitions of both “economic man” and of “satisficing” in several subsequent publications, the original exposition of these was a major contribution to the area of administrative theory. An attempt has been made here to explore what circumstances might have led Simon into putting forward the concept of “satisficing”. © 2004, Emerald Group Publishing Limited