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Rational Decision-Making

  • Rudolf Grünig
  • Richard Kühn
Chapter

Abstract

Chapter 4 deals with rationality in decision-making. Based on a concrete example, a descriptive model of a decision-making process is developed. This model forms the basis for discussing rationality. Based on the distinction between substantial and formal rationality, it is explained why substantial rationality is not possible. Then the requirements of formal rationality in decision-making are introduced.

Keywords

Decision Problem Rational Decision Management Science Decision Situation Sales Manager 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag Berlin Heidelberg 2013

Authors and Affiliations

  1. 1.Chair of ManagementUniversity of FribourgFribourgSwitzerland
  2. 2.MarlySwitzerland

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