Since the pioneering work of Herbert A. Simon, bounded rationality (BR) constitutes a viable alternative to utility maximization in settings characterized by uncertainty about the possible emergence of novel events, missing information, and limitations to human reasoning. Because of its realism, BR gained consensus in organization and management studies. However, BR is a theory of individual decision-making. Substantial extensions are required in order to turn it into a tool to analyze collective decision processes. Following an intuition by the late Simon himself, we submit that organizations channel information flows in ways that alleviate human BR. Thus, analysis and reconstruction of their structure as well as differential degrees and qualities of individual BR within organizations is key to extend this concept to collective decision-making. In this special issue we collected contributions where instances of BR couple with interaction structures to yield collective behavior. Tools range from mathematical models to experimental settings to computational models, testifying the value of multiple approaches and perspectives.

From Bounded Rationality to Collective Behavior

Fioretti, Guido
Secondo
Conceptualization
2021

Abstract

Since the pioneering work of Herbert A. Simon, bounded rationality (BR) constitutes a viable alternative to utility maximization in settings characterized by uncertainty about the possible emergence of novel events, missing information, and limitations to human reasoning. Because of its realism, BR gained consensus in organization and management studies. However, BR is a theory of individual decision-making. Substantial extensions are required in order to turn it into a tool to analyze collective decision processes. Following an intuition by the late Simon himself, we submit that organizations channel information flows in ways that alleviate human BR. Thus, analysis and reconstruction of their structure as well as differential degrees and qualities of individual BR within organizations is key to extend this concept to collective decision-making. In this special issue we collected contributions where instances of BR couple with interaction structures to yield collective behavior. Tools range from mathematical models to experimental settings to computational models, testifying the value of multiple approaches and perspectives.
2021
Ceschi, Andrea; Fioretti, Guido
File in questo prodotto:
File Dimensione Formato  
From_bounded.pdf

accesso riservato

Tipo: Versione (PDF) editoriale
Licenza: Licenza per accesso riservato
Dimensione 70.1 kB
Formato Adobe PDF
70.1 kB Adobe PDF   Visualizza/Apri   Contatta l'autore

I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.

Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11585/845672
Citazioni
  • ???jsp.display-item.citation.pmc??? 1
  • Scopus 3
  • ???jsp.display-item.citation.isi??? 3
social impact