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What Simon says

Author

Listed:
  • Floris Heukelom

    (Universiteit van Amsterdam)

Abstract

This paper provides an overview of the work of Herbert Simon and his ideas about rational decision making. By his own standards, Simon is an economist who works in the tradition of Adam Smith and Alfred Marshall. The central theme in Simon’s research is how human beings organize themselves in different structures of distributed decision making in order to achieve a degree of rationality that is higher than which can be attained by the individual. In this realm his main preoccupation are hierarchic organizations such as the business firm and the computer. Simon sharply contrasts his views with the EUT, the dominant view on rational decision making in economics and other social sciences.

Suggested Citation

  • Floris Heukelom, 2007. "What Simon says," Tinbergen Institute Discussion Papers 07-005/1, Tinbergen Institute.
    • Handle: RePEc:tin:wpaper:20070005
    as

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    File URL: https://papers.tinbergen.nl/07005.pdf
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    References listed on IDEAS

    as
    1. Sugden, Robert, 1991. "Rational Choice: A Survey of Contributions from Economics and Philosophy," Economic Journal, Royal Economic Society, vol. 101(407), pages 751-785, July.
    2. Williamson, Oliver E. & Winter, Sidney G. (ed.), 1993. "The Nature of the Firm: Origins, Evolution, and Development," OUP Catalogue, Oxford University Press, number 9780195083569.
    3. Hands,D. Wade, 2001. "Reflection without Rules," Cambridge Books, Cambridge University Press, number 9780521797962, October.
    4. John B. Davis & Alain Marciano & Jochen Runde (ed.), 2004. "The Elgar Companion To Economics and Philosophy," Books, Edward Elgar Publishing, number 2696.
    5. Herbert A. Simon, 1986. "The Failure of Armchair Economics," Challenge, Taylor & Francis Journals, vol. 29(5), pages 18-25, November.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Herbert Simon; decision making; Expected Utility Theory; hierarchic organizations;
    All these keywords.

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory

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