Two Faces of Search: Alternative Generation and Alternative Evaluation

Loading...
Thumbnail Image
Penn collection
Management Papers
Degree type
Discipline
Subject
organizational search
bounded rationality
organizational decision making
Business Administration, Management, and Operations
Marketing
Funder
Grant number
License
Copyright date
Distributor
Related resources
Author
Knudsen, Thorbjørn Knudsen
Levinthal, Daniel A
Contributor
Abstract

At its core, a behavioral theory of choice has two fundamental attributes that distinguish it from traditional economic models of decision making. One attribute is that choice sets are not available ex ante to actors, but must be constructed. This notion is well established in our models of learning and adaptation. The second fundamental postulate is that the evaluation of alternatives is likely to be imperfect. Despite the enshrinement of the notion of bounded rationality in the organizations literature, this second postulate has been largely ignored in our formal models of learning and adaptation. We develop a structure with which to capture the imperfect evaluation of alternatives at the individual level and then explore the implications of alternative organizational structures, comprising such individual actors, on organizational decision making.

Advisor
Date Range for Data Collection (Start Date)
Date Range for Data Collection (End Date)
Digital Object Identifier
Series name and number
Publication date
2007-01-01
Journal title
Organization Science
Volume number
Issue number
Publisher
Publisher DOI
Journal Issue
Comments
Recommended citation
Collection