Decision Making is a basic function of manager, economics is a valuable guide to the manager. There are basically two major models of decision-making - the classical model and the administrative model.

The classical model of decision making is a prescriptive approach that outlines how managers should make decision. Also called the rational model, the classical model is based on economic assumptions and asserts that managers are logical, rational individuals who make decision that are in the best interest of the organization.

The Administrative model of decision making is a descriptive approach that outlines how managers actually do make decisions. Also called the organizational, neoclassical, or behavioral model, the administrative model is based on the work of economist Herbert A.

The model of buying decision behavior consists of the items people are attracted to. When making a decision to purchase. The model can help businesses display items in a way that is attractive to the customer.

Decision Making is a basic function of manager, economics is a valuable guide to the manager. There are basically two major models of decision-making - the classical model and the administrative model.

The classical model of decision making is a prescriptive approach that outlines how managers should make decision. Also called the rational model, the classical model is based on economic assumptions and asserts that managers are logical, rational individuals who make decision that are in the best interest of the organization.

The Administrative model of decision making is a descriptive approach that outlines how managers actually do make decisions. Also called the organizational, neoclassical, or behavioral model, the administrative model is based on the work of economist Herbert A.

the major model of decision making that assumes the decision maker will be rational, systematic, and logical in assessing each alternative is rational economic model.

classical model of decision making involves more thinking and reasoning

administrative model of decision making involves more intuition and feelings