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On How to Decide What to Do

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  • Herbert A. Simon

Abstract

Economics, which has traditionally been concerned with what decisions are made rather than with how they are made, has more and more reason to interest itself in the procedural aspects of decision, especially to deal with uncertainty, and more generally, with nonequilibrium phenomena. A number of approaches to procedural rationality have been developed in such fields as operations research and management science, artificial intelligence, computational complexity, and cognitive simulation which might be of considerable value to economics as it moves in this new direction.

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Bibliographic Info

Article provided by The RAND Corporation in its journal Bell Journal of Economics.

Volume (Year): 9 (1978)
Issue (Month): 2 (Autumn)
Pages: 494-507

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Handle: RePEc:rje:bellje:v:9:y:1978:i:autumn:p:494-507

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Cited by:
  1. Sadok Mansour, 2007. "Modelisation Du Risque Dans Les Methodologies D'Audit : Apport Des De La Psychometrie," Post-Print halshs-00543217, HAL.
  2. Mansour, Sadok, 2007. "Modélisation du risque dans les méthodologies d'audit : apport de la psychométrie," Economics Papers from University Paris Dauphine 123456789/3528, Paris Dauphine University.
  3. Berg, Nathan, 2014. "Success from satisficing and imitation: Entrepreneurs' location choice and implications of heuristics for local economic development," Journal of Business Research, Elsevier, vol. 67(8), pages 1700-1709.
  4. A. Hamlin, 1984. "Constitutional control of processes and their outcomes," Public Choice, Springer, vol. 42(2), pages 133-145, January.
  5. Robert Axtell, 2007. "What economic agents do: How cognition and interaction lead to emergence and complexity," The Review of Austrian Economics, Springer, vol. 20(2), pages 105-122, September.

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