Selection and Evaluation of Alternatives in Repetitive Decision Making

Abstract

A two-step structure is hypothesized to underlie generation and selection of alternatives in repetitive decision making. In the first the decision maker generates and maintains a large, stable set of alternatives generally acceptable in the repetitive decision. In the second he chooses his action from this stable set. Evidence tending to support this hypothesis is presented. Further hypotheses on repetitive decisions from the Cyert-March theory of the firm are also evaluated.'