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Models of Bounded Rationality, Vol. 3: Emperically Grounded Economic Reason - Hardcover

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9780262193726: Models of Bounded Rationality, Vol. 3: Emperically Grounded Economic Reason

Synopsis

Offering alternative models based on such concepts as satisficing (acceptance of viable choices that may not be the undiscoverable optimum) and bounded rationality (the limited extent to which rational calculation can direct human behavior), Simon shows concretely why more empirical research based on experiments and direct observation, rather than just statistical analysis of economic aggregates, is needed.

Throughout Herbert Simon's wide-ranging career―in public administration, business administration, economics, cognitive psychology, philosophy, artificial intelligence, and computer science―his central aim has been to explain the nature of the thought processes that people use in making decisions.

The third volume of Simon's collected papers continues this theme, bringing together work on this and other economics-related topics that have occupied his attention in the 1980s and 1990s: how to represent causal ordering formally in dynamic systems, the implications for society of new electronic information systems, employee and managerial motivation in the business firm (specifically the implications for economics of the propensity of human beings to identify with the goals of organizations), and the state of economics itself.

Offering alternative models based on such concepts as satisficing (acceptance of viable choices that may not be the undiscoverable optimum) and bounded rationality (the limited extent to which rational calculation can direct human behavior), Simon shows concretely why more empirical research based on experiments and direct observation, rather than just statistical analysis of economic aggregates, is needed.

The twenty-seven articles, in five sections, each with an introduction by the author, examine the modeling of economic systems, technological change: information technology, motivation and the theory of the firm, and behavioral economics and bounded rationality.

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About the Author

Herbert Simon is Professor of Psychology at Carnegie-Mellon University. He was awarded the Nobel Prize in economics in 1978.

"About this title" may belong to another edition of this title.

  • PublisherMit Pr
  • Publication date1997
  • ISBN 10 0262193728
  • ISBN 13 9780262193726
  • BindingHardcover
  • LanguageEnglish
  • Number of pages457
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Herbert A. Simon
Published by The MIT Press, 1997
ISBN 10: 0262193728 ISBN 13: 9780262193726
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Published by The MIT Press, 1997
ISBN 10: 0262193728 ISBN 13: 9780262193726
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Condition: Good. Volume 3. This is an ex-library book and may have the usual library/used-book markings inside.This book has hardback covers. In good all round condition. No dust jacket. Please note the Image in this listing is a stock photo and may not match the covers of the actual item,950grams, ISBN:0262193728. Seller Inventory # 8677508

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Hardcover. Condition: Bon. Ancien livre de bibliothèque. Légères traces d'usure sur la couverture. Edition 1997. Ammareal reverse jusqu'à 15% du prix net de cet article à des organisations caritatives. ENGLISH DESCRIPTION Book Condition: Used, Good. Former library book. Slight signs of wear on the cover. Edition 1997. Ammareal gives back up to 15% of this item's net price to charity organizations. Seller Inventory # E-972-914

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