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Economics As A Science Of The Artificial

Author

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  • GHIURCA Camelia

    (Alexandru Ioan Cuza University of Iasi)

Abstract

This article explores Herbert A. Simon’s view on economics as described in his first work “The Sciences of the Artificial†. Although the book is less famous than his 1945 book “The Administrative Behavior†, it still contains important ideas about the human behaviour, relevant today not only for economics, but also for other disciplines such as design and ergonomics. Economics is presented as a science of the artificial and its core concept – the man is seen as an artificial or behaving system. Simon’s perspective is placed in a historical context, underlying his critique of neoclassical economics and his ideas on rationality and decision making.

Suggested Citation

  • GHIURCA Camelia, 2019. "Economics As A Science Of The Artificial," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 71(5), pages 39-46, December.
    • Handle: RePEc:blg:reveco:v:71:y:2019:i:5:p:39-46
    as

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    File URL: http://economice.ulbsibiu.ro/revista.economica/archive/71503ghiurca.pdf
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    References listed on IDEAS

    as
    1. Herbert A. Simon, 1955. "A Behavioral Model of Rational Choice," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 69(1), pages 99-118.
    2. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    3. Daniel Kahneman, 2003. "Maps of Bounded Rationality: Psychology for Behavioral Economics," American Economic Review, American Economic Association, vol. 93(5), pages 1449-1475, December.
    4. Kahneman, Daniel, 2002. "Maps of Bounded Rationality," Nobel Prize in Economics documents 2002-4, Nobel Prize Committee.
    5. Esther-Mirjam Sent, 2004. "Behavioral Economics: How Psychology Made Its (Limited) Way Back Into Economics," History of Political Economy, Duke University Press, vol. 36(4), pages 735-760, Winter.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Herbert A. Simon; Bounded rationality; Human behavior; Decision making; Behavioural economics;
    All these keywords.

    JEL classification:

    • B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
    • B3 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals
    • N00 - Economic History - - General - - - General

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