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Economics and Rationality of organizations: an approach to the work of Herbert A. Simon

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  • Estrada, Fernando

Abstract

One of the main achievements of Herbert A. Simon in organizational theory is analytically evaluating the psychology of individual and collective behavior thus opening the ground for further research D. Kahneman, and T. Schelling. This article provides an assessment of the contributions of Simon's theory of organizations with special emphasis on the criterion of bounded rationality. It is interpreted Simon's criticism of the orthodox version of organizational bureaucracy and extends his analysis to the new institutional economics.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 21811.

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Date of creation: 01 Apr 2010
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Handle: RePEc:pra:mprapa:21811

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Keywords: Economic theory; organizations; Herbert Simon; bounded rationality; Kahneman; Schelling; decision theory.;

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  1. Simon, Herbert A., 1984. "On the behavioral and rational foundations of economic dynamics," Journal of Economic Behavior & Organization, Elsevier, vol. 5(1), pages 35-55, March.
  2. Sent, Esther-Mirjam, 2004. "The legacy of Herbert Simon in game theory," Journal of Economic Behavior & Organization, Elsevier, vol. 53(3), pages 303-317, March.
  3. Augier, Mie & March, James G., 2002. "A model scholar: Herbert A. Simon (1916-2001)," Journal of Economic Behavior & Organization, Elsevier, vol. 49(1), pages 1-17, September.
  4. Simon, Herbert A, 1979. "Rational Decision Making in Business Organizations," American Economic Review, American Economic Association, vol. 69(4), pages 493-513, September.
  5. Marco Novarese & Salvatore Rizzello, 2003. "Satisfaction and Learning: an experimental game to measure happiness," Microeconomics 0306004, EconWPA.
  6. Nicolai J. Foss, . "Simon's Grand Theme and the Economics of Organization," IVS/CBS Working Papers 2001-9, Department of Industrial Economics and Strategy, Copenhagen Business School.
  7. Massimo Egidi & Luigi Marengo, 2002. "Cognition, institutions, near decomposability: rethinking Herbert Simon's contribution," CEEL Working Papers 0206, Cognitive and Experimental Economics Laboratory, Department of Economics, University of Trento, Italia.
  8. Simon, Herbert A., 1982. "The rural-urban population balance again," Regional Science and Urban Economics, Elsevier, vol. 12(4), pages 599-606, November.
  9. Herbert A. Simon, 1991. "Organizations and Markets," Journal of Economic Perspectives, American Economic Association, vol. 5(2), pages 25-44, Spring.
  10. Schwartz, Hugh, 2002. "Herbert Simon and behavioral economics," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 31(3), pages 181-189.
  11. Simon, Herbert A., 1997. "On the possibility of accurate public prediction," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 26(2), pages 127-132.
  12. Brink, Helge, 1994. "Models of my life : Herbert A. Simon, (Basic Books, New York, NY, 1991) $26.95, 415 pp," Journal of Economic Dynamics and Control, Elsevier, vol. 18(5), pages 1045-1049, September.
  13. Martin Beckenkamp, 2004. "Is there an optimization in bounded rationality? The ratio of aspiration levels," Working Paper Series of the Max Planck Institute for Research on Collective Goods 2004_15, Max Planck Institute for Research on Collective Goods.
  14. Richard N. Langlois, 2002. "Cognitive Comparative Advantage and the Organization of Work: Lessons from Herbert Simon's Vision of the Future," Working papers 2002-20, University of Connecticut, Department of Economics.
  15. Kaufman, Bruce E., 1999. "Emotional arousal as a source of bounded rationality," Journal of Economic Behavior & Organization, Elsevier, vol. 38(2), pages 135-144, February.
  16. Simon, Herbert A., 2000. "Barriers and bounds to Rationality," Structural Change and Economic Dynamics, Elsevier, vol. 11(1-2), pages 243-253, July.
  17. Herbert A. Simon, 2001. "¿Por qué la administración pública?," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 3(4), pages 119-122, January-J.
  18. Minkes, A. L. & Foxall, Gordon R., 2003. "Herbert Simon and the concept of dispersed entrepreneurship," Journal of Economic Psychology, Elsevier, vol. 24(2), pages 221-228, April.
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