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Simon's Theory Of Rational Decision Making

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1. INTRODUCTION
Decision making is a basic phenomenon of human nature and it’s been studied in almost all the branches of social and behavioral sciences for many centuries. Mankind has tried to define it and now consider it a concept that plays a mayor part in modern economics and psychology. While behavioral ecology and neurosciences have all made their contribution into the field of study decision-making seems to be the deemed the most importantly by marketing professionals and organizations, with the aim to design their advertisement market strategies. Since these marketing strategies and campaigns are such a huge investment for the organization and a successful marketing strategy can really be a game changer in the globalized segregated …show more content…

Whereas G.Lakomski & W.Evers (2010.) argues that indecision making emotions play a central role in rational decision making as per the new research findings in neuroanatomical of emotion, which makes the classical theories of rationality as well as the Herbert Simon's modified model of satisficing which sharply demarcates emotions and take them away from the process of rational decision making needs a review and revision. As the emotions are an integral part of the human behavior and even while humans try to base their decisions on rationality it is still need to be justified by emotional needs towards it, so can connect to the product and get the maximum satisfaction from …show more content…

As H.Damasio (1996, 1999, and 2003) advocates the so-called somatic marker hypothesis (SHM) which is a highly controversial neuroscientific study of decision-making behavior which claims that emotions govern a lot of practical decisions made by us without even having knowledge of it; like a woman shops for clothes of discount just because it satisfy the emotional need of the time she makes that decision without thinking of the rational value of the

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