Simon's Decision-Making Theory

Simon's Decision-Making Theory explains how people make choices by balancing the desire for the best possible result with practical limitations like time, information, and cognitive capacity. Instead of searching for the perfect solution, individuals often settle for a satisfactory one that meets their needs within these constraints. This approach is called "satisficing," emphasizing that decisions are made efficiently by evaluating options until an acceptable choice is found, rather than exhaustively analyzing all possibilities. In essence, Simon's theory recognizes that decision-making involves navigating real-world limitations to reach good enough solutions efficiently.