For his work in developing the administrative model to describe how managers make decisions in the real world,Herbert Simon won the Nobel Prize in
A)medicine.
B)economics.
C)peace.
D)psychology.
E)management.

Question

Quizplus · Accepted Answer

Herbert Simon won the Nobel Prize in Economics for his work in developing the administrative model, which has become an important concept in the field of management and organizational studies. The administrative model describes how managers make decisions in the real world, taking into consideration not just rational analysis, but also bounded rationality and the limitations of human cognitive abilities.

For His Work in Developing the Administrative Model to Describe