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Simon's Bounded Rationality. Origins and use in economic theory



The paper aims to show how Simon's notion of bounded rationality should be interpreted in the light of its connection with artificial intelligence. This connection points out that bounded rationality is a highly structured concept, and sheds light on several implications of Simon's general views on rationality. Finally, offering three paradigmatic examples, the artic1e presents the view that recent approaches, which refer to Simon's heterodox theory, only partially accept the teachings of their inspirer, splitting bounded rationality from the context of artificl al intelligence.

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  • Fiori Stefano, 2005. "Simon's Bounded Rationality. Origins and use in economic theory," CESMEP Working Papers 200509, University of Turin.
  • Handle: RePEc:uto:cesmep:200509

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    References listed on IDEAS

    1. Golland, Louise Ahrndt, 1996. "Formalism in Economics," Journal of the History of Economic Thought, Cambridge University Press, vol. 18(01), pages 1-12, March.
    2. Punzo, Lionello F., 1991. "The School of Mathematical Formalism and the Viennese Circle of Mathematical Economists," Journal of the History of Economic Thought, Cambridge University Press, vol. 13(01), pages 1-18, June.
    3. D. G. Champernowne, 1945. "A Note on J. v. Neumann's Article on "A Model of Economic Equilibrium"," Review of Economic Studies, Oxford University Press, vol. 13(1), pages 10-18.
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    Cited by:

    1. Germana Bottone, 2009. "Education in Italy: is there any return?," ISAE Working Papers 109, ISTAT - Italian National Institute of Statistics - (Rome, ITALY).
    2. Petracca, Enrico, 2015. "A tale of paradigm clash: Simon, situated cognition and the interpretation of bounded rationality," MPRA Paper 64517, University Library of Munich, Germany.

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