"In these two essays [the papers of 1955 and 1956] the focus is upon ways of simplifying the choice problem to bring it within the power of human computation... The key to the simplification of the choice process in both cases is the replacement of the goal of maximizing with the goal of satisficing, of finding a course of action that is ‘good enough’. I have tried, in these two essays, to show why this substitution is an essential step in the application of the principle of bounded rationality."
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Computer scientists from the United StatesCognitive scientistsEconomists from the United StatesBusiness theorists from the United StatesSystems scientists
Original Language: English
Available Languages (1)
Sources
p. 204‑5; As cited in: Gustavo Barros (2010) "Herbert A. Simon and the concept of rationality: boundaries and procedures." Revista de Economia PolÃtica 30.3. p. 461.
https://en.wikiquote.org/wiki/Herbert_A._Simon
Revision History
No revisions have been submitted for this quote.
Categories
Herbert A. Simon
Herbert Alexander Simon (June 15, 1916 – February 9, 2001) was an American political scientist whose research ranged across the fields of cognitive psychology, computer science, public administration, economics, management, philosophy of science and sociology and was a professor, most notably, at Carnegie Mellon University. With almost a thousand often very highly cited publications he is one of the most influential social scientists of the 20th century.
65 quotes on TrueQuotesView all quotes by Herbert A. Simon →
Related Quotes
"If there were no limits to human rationality administrative theory would be barren. It would consist of the single pr…"
"The techniques of the practitioner are usually called 'synthetic'. He designs by organizing known principles and devi…"
"Most of the propositions that make up the body of administrative theory today share, unfortunately, this defect of pr…"
"Broadly stated, the task is to replace the global rationality of economic man with a kind of rational behavior that i…"
"Over Christmas, Allen Newell and I created a thinking machine."
"It is not my aim to surprise or shock you – but the simplest way I can summarize is to say that there are now in the …"
"Before we can establish any immutable 'principles' of administration, we must be able to describe, in words, exactly …"
"The world you perceive is drastically simplified model of the real world."
"Whereas economic man maximizes - selects the best alternative from among all those available to him, his cousin, admi…"
"The criterion of efficiency dictates that choice of alternatives which produces the largest result for the given appl…"