The Rhetorical Dimensions of Bounded Rationality: Herbert A. Simon and Organizational Economics
I 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.
|Date of creation:|
|Date of revision:|
|Contact details of provider:|| Web page: http://www.cbs.dk/forskning_viden/fakulteter_institutter_centre/institutter/oekonomi/ivs/|
When requesting a correction, please mention this item's handle: RePEc:ivs:iivswp:02-07. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (J. Petur Joensen)
If references are entirely missing, you can add them using this form.