Information Processing Model of Executive Decision

John A. Howard and William M. Morgenroth
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John A. Howard: Columbia University
William M. Morgenroth: Ohio State University

Management Science, 1968, vol. 14, issue 7, 416-428

Abstract: Company information systems demand a better understanding of the nature of the executive's decision process. Above all his information requirements must be specified. The capacity to specify these requirements is the hallmark of the information-processing model. An example of the form of the simulation of a pricing decision process is presented. The model, a binary flow chart type, simulates the pricing decision in a differentiated oligopolistic market. The validity of the model is established by comparing the two kinds of predictions that it makes--output and process--with reality. A number of problems encountered in developing models of this type are discussed. Some of the broader implications of these models are described and others are briefly mentioned.

Date: 1968
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Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:14:y:1968:i:7:p:416-428

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