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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.

Suggested Citation

  • Herbert A. Simon, 1978. "On How to Decide What to Do," Bell Journal of Economics, The RAND Corporation, vol. 9(2), pages 494-507, Autumn.
  • Handle: RePEc:rje:bellje:v:9:y:1978:i:autumn:p:494-507
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    Citations

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    Cited by:

    1. Paul Frijters & Benno Torgler & Brendan Markey-Towler, 2016. "On the Problem of Constructing Rational Preferences," The Economic Record, The Economic Society of Australia, vol. 92, pages 68-82, June.
    2. repec:dau:papers:123456789/3528 is not listed on IDEAS
    3. A. Hamlin, 1984. "Constitutional control of processes and their outcomes," Public Choice, Springer, vol. 42(2), pages 133-145, January.
    4. Barros, Gustavo, 2007. "Herbert A. Simon e o conceito de racionalidade: limites e procedimentos
      [Herbert A. Simon and the concept of rationality: boundaries and procedures]
      ," MPRA Paper 71508, University Library of Munich, Germany.
    5. 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.
    6. Westhoff, Frank H. & Yarbrough, Beth V. & Yarbrough, Robert M., 1996. "Complexity, organization, and Stuart Kauffman's The Origins of Order," Journal of Economic Behavior & Organization, Elsevier, vol. 29(1), pages 1-25, January.
    7. repec:spr:rvmgts:v:11:y:2017:i:4:d:10.1007_s11846-016-0205-0 is not listed on IDEAS
    8. Sadok Mansour, 2007. "Modelisation Du Risque Dans Les Methodologies D'Audit : Apport Des De La Psychometrie," Post-Print halshs-00543217, HAL.
    9. Philippe Mongin, 1984. "Modèle rationnel ou modèle économique de la rationalité ?," Revue Économique, Programme National Persée, vol. 35(1), pages 9-64.
    10. Robert Axtell, 2007. "What economic agents do: How cognition and interaction lead to emergence and complexity," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 20(2), pages 105-122, September.

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