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