Encyclopedia of Operations Research and Management Science

2001 Edition
| Editors: Saul I. Gass, Carl M. Harris


Reference work entry
DOI: https://doi.org/10.1007/1-4020-0611-X_919

In a decision problem, the selection by the decision maker (DM) of a satisfactory alternative as opposed to the selection of an “optimal” alternative. Here, the DM sets aspiration levels or acceptable levels on the outcomes and chooses the (first) alternative that satisfies these levels. This compromise selection is due to the DM's inability to encompass all the complexities of the decision problem and/or lack of a method that can determine an optimal solution. The concept is due to Simon (from “A Behavioral Model of Rational Choice,” Qtrly. Jl. Economics, 69, 99–118, 1957; and Models of Man, John Wiley, New York, 1957). Bounded rationality; Choice theory; Decision analysis; Decision maker; Decision problem; Goal programming.

Copyright information

© Kluwer Academic Publishers 2001

Authors and Affiliations

  1. 1.Robert H. Smith School of BusinessUniversity of MarylandCollege PartUSA
  2. 2.School of Information Technology & EngineeringGeorge Mason UniversityFairfaxUSA