15277: Bounded Rationality and Decision Making in Organizations: The Way Forward

Tuesday, July 29, 2025

08:30 - 10:00 CEST (GMT+2)

Location: Auditorium 12

Session Type: Symposium (panel)
Shareable link: https://cdmcd.co/nR68kJ

Speaker(s)

PA

Pino G. Audia

Dartmouth College, Tuck School of Business, United States
GG

Gerd Gigerenzer

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Handouts
GH

Gerard P. Hodgkinson

U. of Manchester, United Kingdom
DL

Daniel Levinthal

U. of Pennsylvania, United States

Session Chair(s)

CL

Chengwei Liu

Imperial College Business School, United Kingdom

Organizer(s)

PA

Pino G. Audia

Dartmouth College, Tuck School of Business, United States
GH

Gerard P. Hodgkinson

U. of Manchester, United Kingdom

Herbert Simon’s concept of bounded rationality continues to have a tremendous influence on our understanding of decision-making within and between organizations. Surprisingly, however, the influential research programs that developed the concept of bounded rationality and applied it to the study of organizations remain largely disconnected. One prominent example of this disconnection is with respect to the limited dialogue between research within the Carnegie perspective that builds on Cyert & March’s seminal book A Behavioral Theory of the Firm and the voluminous research examining the nature and role of heuristics in organizational decision-processes. However, this state of fragmentation is not inevitable. The symposium will seek to address the following questions: Where should research on bounded rationality in decision-making in and by organizations go next? Should it continue on parallel tracks delineated by established lines of inquiry? Or should it explore new directions that capitalize on and combine insights and findings yielded by lines of work that have largely been disconnected? What would these new directions be?