James G. March and Herbert A. Simon ; with the collaboration of Harold Guetzkow
This new edition places the material in its contemporary context, whilst still preserving the 1958 text. It examines such concepts as bounded rationality, satisficing, inducement/contribution balances, problem solving and uncertainty absorption. The text also explores organization theory, decision making, bureaucracy, conflict, cognitive limits on rationality, planning and innovation in organizations. Herbert Simon received the Nobel Prize in 1978.