The Rhetorical Dimensions of Bounded Rationality: Herbert A. Simon and Organizational Economics
AbstractI discuss the rhetorical dimensions of bounded rationality in two different, yet related, contexts, namely in the practice of organizational economists and in Herbert Simon’s key attempts to persuade economists to take bounded rationality seriously, his Ely lecture and his Nobel Prize lecture. I discuss various reasons why Simon failed to convince his contemporaries, among other things, the absence of clear definitions of bounded rationality and heuristics for incorporating it into economic models. Simon’s failures in these respects help explaining the very modest, and mainly “rhetorical,” use of bounded rationality in the works of organizational economists.
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Bibliographic InfoPaper provided by Department of Industrial Economics and Strategy, Copenhagen Business School in its series IVS/CBS Working Papers with number 2002-07.
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Herbert Simon; bounded rationality; organizational economics; rhetoric.;
Find related papers by JEL classification:
- B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
- D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
- M1 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration
This paper has been announced in the following NEP Reports:
- NEP-ALL-2002-07-04 (All new papers)
- NEP-CDM-2002-07-04 (Collective Decision-Making)
- NEP-HPE-2002-07-04 (History & Philosophy of Economics)
- NEP-MIC-2002-07-05 (Microeconomics)
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- Estrada, Fernando, 2012.
"Herbert Simon: bounded rationality y teoría de las organizaciones
[Herbert Simon: bounded rationality and organizations theory]," MPRA Paper 38686, University Library of Munich, Germany.
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