The development of expectancy theory is described and 14 alternative models of expectancy are contrasted. It is argued that the essence of the theory in work and motivation is the choice of work behavior. As such, it is shown that the present formulation of theory in industrial and organizational psychology, and consequently the empirical research based on it, ignores the rationality assumptions underlying this choice behavior. Some of these assumptions are specified. It is pointed out that the major constructs of the theory (expectancy and valence) lack the necessary theoretical classification. Several issues in need for further research are discussed. The concept of instrumentality is found to be ambiguous and difficult to operationalize. Finally, it is shown that the typical formulation of the theory is based on optimization choice criteria (maximizing or satisficing) and the empirical validity of these criteria is questioned. Alternative criteria are proposed. The empirical findings in the field are interpreted in light of the discussion.
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