RichardM Cyert has written:
'The economic theory of organization and the firm' -- subject(s): Industrial organization (Economic theory)
Richard Cyert was born on 1921-07-22.
Richard Cyert died on 1998-10-07.
Cyert and March's behavior theory suggests that organizations make decisions based on a mix of rationality and incrementalism, focusing on satisfying rather than maximizing goals. However, critics argue that the theory oversimplifies the decision-making process and neglects the role of power dynamics and external influences in organizational behavior.
Cyert and March's behavioral theory focuses on how organizations make decisions based on bounded rationality. The theory suggests that decisions are influenced by cognitive and behavioral limitations of individuals within an organization. Some demerits of this theory include oversimplification of decision-making processes, lack of consideration for external factors, and difficulty in empirical testing due to its subjective nature.
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