Herbert A. Simon

Whereas economic man maximises, selects the best alternative from among all those available to him, his cousin, administrative man, satisfices, looks for a course of action that is satisfactory or 'good enough'.
Whereas economic man maximises, selects the best alternative from among all those available to him, his cousin, administrative man, satisfices, looks for a course of action that is satisfactory or 'good enough'.
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These are some quotes by American author Herbert A. Simon Economist, who lived between June 15, 1916 and February 9, 2001.