Assertion (A): Herbert Simon criticized classical administrative principles as mere 'proverbs'. Reason (R): Classical theory neglected the central importance of decision-making processes in organizations. Choose the most appropriate answer:

Herbert Simon is best known for introducing which concept in Decision-Making Theory?

Which of the following statements are correct regarding Herbert Simon's Decision-Making Theory? i. It rejected bounded rationality in favor of total optimization. ii. It is based on a distinction between facts and values (fact-value dichotomy). iii. It asserts that human decisions attain 100% absolute rationality. iv. Decision-making comprises three main phases: Intelligence, Design, and Choice.