Herbert A. Simon was an American political scientist, economist, and social theorist who was a Harvard PhD in both political science and economics. In his time, his impact was so grand that he was awarded the Nobel Memorial Prize in Economics in 1978 for his contributions to modern business economics and administrative research.
Simon is considered by some to be one of the most influential social scientists of the twentieth century and has been recognized as the founder of numerous subfields in political science, organizational theory, and computer science. His emphasis on the analysis of decision making in government and organizations made him one of the most cited figures in all of social science.
Simon is best known for his revolutionary theory of bounded rationality. This theory challenged the thesis of classical economic theory which claims that people act rationally to achieve their goals. Through numerous studies and experiments, Simon was able to show that people often take irrational decisions due to lack of ‘perfect’ information, cognitive biases, and time limitations. This groundbreaking hypothesis shifted the focus of economic research to include studies of decision-making and problem-solving processes.
Simon also wrote extensively on organizational theory, specifically on the mechanisms of decision-making and problem-solving within organizations. He created theories such as the ‘logic of the garbage can’ and ‘problem solving generated search’. The former showed how decision-making in organizations often occurs in chaotic conditions, while the latter showed how organizations can search for solutions amidst uncertainty.
Simon's approach to decision-making has been adopted by the organizational theorist Herbert A. Simon. He suggested that decisions should not be restrictive nor be informed purely by the solution of an individual actor, but should be made through an iterative process that allows for ‘bounded’ rational decision making. His ideas about rationality are still widely cited today, and his work has had a major effect on subsequent approaches to decision-making in economics, psychology, and business management.
In summary, Herbert A. Simon was an influential figure in the field of social science. His theory of bounded rationality revolutionized how people think about decision-making processes and was the foundation of the field of organizational theory. His ongoing research and experiments helped to shape the field of business economics and administrative research, leading to his Nobel Prize in Economics. His ideas are still used in current academic research and popularized in the business world today.
Simon is considered by some to be one of the most influential social scientists of the twentieth century and has been recognized as the founder of numerous subfields in political science, organizational theory, and computer science. His emphasis on the analysis of decision making in government and organizations made him one of the most cited figures in all of social science.
Simon is best known for his revolutionary theory of bounded rationality. This theory challenged the thesis of classical economic theory which claims that people act rationally to achieve their goals. Through numerous studies and experiments, Simon was able to show that people often take irrational decisions due to lack of ‘perfect’ information, cognitive biases, and time limitations. This groundbreaking hypothesis shifted the focus of economic research to include studies of decision-making and problem-solving processes.
Simon also wrote extensively on organizational theory, specifically on the mechanisms of decision-making and problem-solving within organizations. He created theories such as the ‘logic of the garbage can’ and ‘problem solving generated search’. The former showed how decision-making in organizations often occurs in chaotic conditions, while the latter showed how organizations can search for solutions amidst uncertainty.
Simon's approach to decision-making has been adopted by the organizational theorist Herbert A. Simon. He suggested that decisions should not be restrictive nor be informed purely by the solution of an individual actor, but should be made through an iterative process that allows for ‘bounded’ rational decision making. His ideas about rationality are still widely cited today, and his work has had a major effect on subsequent approaches to decision-making in economics, psychology, and business management.
In summary, Herbert A. Simon was an influential figure in the field of social science. His theory of bounded rationality revolutionized how people think about decision-making processes and was the foundation of the field of organizational theory. His ongoing research and experiments helped to shape the field of business economics and administrative research, leading to his Nobel Prize in Economics. His ideas are still used in current academic research and popularized in the business world today.