Recognizing the problems with the classical model of decision making, James March and Herbert Simon developed the administrative decision-making model.

Question

Quizplus · Accepted Answer

James March and Herbert Simon did indeed develop the administrative decision-making model as an alternative to the classical model. The administrative model acknowledges the limitations of rationality and emphasizes the importance of bounded rationality and satisficing (i.e., choosing an option that is satisfactory, rather than the best possible option).

Recognizing the Problems with the Classical Model of Decision Making