How many judgment and decision making (JDM) researchers have not claimed to be building on Herbert Simon's work? We identify two of Simon's goals for JDM research: He sought to understand people's decision processes---the descriptive goal---and studied whether the same processes lead to good...

Herbert Simon disseminated his bounded rationality approach in his vast academic production. The recognition of the complex environment and the cognitive limits led him to study about the use of heuristics in the decision-making. Around this idea, a new path to the study of human decisions has...

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...

Dès lors que l'on s'intéresse aux comportements individuels et que l'on adopte implicitement une démarche d'individualisme méthodologique, le recours à une hypothèse de rationalité individuelle est nécessaire. A côté de l'hypothèse traditionnelle de rationalité dite "substantielle"...

This article describes the emerging subfield known as behavioral economics, which borrows from psychology, empirically tests assumptions used elsewhere in economics, and provides theories that aim to be more realistic and closely tied to experimental and field data. Highlights from the...

Economist Frank H. Knight (1885--1972) is commonly credited with defining the distinction between decisions under ``risk'' (known chance) and decisions under ``uncertainty'' (unmeasurable probability) in his 1921 book Risk, Uncertainty and Profit. A closer reading of Knight (1921) reveals a host...

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....