Herbert A. Simon was an economist and political scientist known for his theory of bounded rationality who won the Nobel Prize in Economics in 1978.

Underlining that economic theory and methodology needed a change, Simon focused his research on challenging existing presumptions. "For every problem, one has a theory, a way of addressing the problem ...

Herbert A. Simon, 84, one of the nation's intellectual virtuosos, who combined hard-edged mathematics with humanistic inclinations to develop a theory of economic decision making that gave ...

Herbert A. Simon, who won the 1978 Nobel Prize in economics for pioneering work on the nature of decision making, has died. Simon, a longtime faculty member at Carnegie Mellon University and a ...

Rational choice theory says individuals make choices that result in outcomes aligned with their best interests. ... Nobel laureate Herbert Simon, ...

The economist and sociologist Herbert Simon, ... According to this theory, only a certain amount of information—say, 70%—is necessary for a proper understanding of the situation.

Herbert Simon (1916-2001) is most famous for what is known to economists as the theory of bounded rationality, a theory about economic decision-making that Simon himself preferred to call ...

Herbert A. Simon (1916–2001) ... 1978 for his contributions to modern business economics and administrative research. He is widely associated with the theory of bounded rationality, ...