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Rationality is what we do to organize the world, to make it possible to predict. Art is the rehearsal for the inapplicability and failure of that process.
--
December 7, 1995, p. 272

 

Brian Eno

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"... the first consequence of the principle of bounded rationality is that the intended rationality of an actor requires him to construct a simplified model of the real situation in order to deal with it. He behaves rationally with respect to this model, and such behavior is not even approximately optimal with respect to the real world. To predict his behavior we must understand the way in which this simplified model is constructed, and its construction will certainly be related to his psychological properties as a perceiving, thinking, and learning animal."

 

Herbert Simon

 

You are responsible for all of your successes, and the lack thereof. And that is the essential point that failure, your ever-faithful friend, wants to make: that your failure could not exist without you—without your stupidity, without your lies, without your mistakes, your uselessness, your lack of faith, your ineptitude, your unjustifiable confidence in your alleged abilities, you stupid loser—failure is your only friend. Failure is your only lover. Failure is your only hope.

 

John S. Hall

 

[T]he assumption describes our actions, not our thoughts. If you had to understand something intellectually in order to do it, none of us would be able to walk.
Economics is based on the assumption that people have reasonably simple objectives and choose means to achieve them. Both assumptions are false-but useful.
Suppose someone is rational only half the time. Since there is generally one right way of doing things and many wrong ways, the rational behavior can be predicted but the irrational cannot. If we assume he is rational, we predict his behavior correctly about half of the tie - far from perfect, but a lot better then nothing. If I could do well at the racetrack I would be a very rich man.
[R]ationality is an assumption I make about other people. I know myself.
[R]ationality is an assumption I make about other people. I know myself well enough to allow for the consequences of my own irrationality. But for the vast mass of my fellow humans, about whom I know very little, rationality is the best predictive assumption available. (pp.3-5)

 

David Friedman

 

I feel that we are living a very fragmented life; the whole world — you too. So I perceive the world in fragments. It is somewhat like being on a very fast train and getting glimpses of things in strange scales as you pass by. A person can be very, very tiny. And a billboard can make a person very large. You see the corner of a house or you see a bird fly by, and it's all fragmented. Somehow, in painting I try to make some logic out of the world that has been given to me in chaos. I have a very pretentious idea that I want to make life, I want to make sense out of it. The fact that I am doomed to failure — that doesn't deter me in the least.

 

Grace Hartigan

 

As we advance we find more and more frequently that we can in fact ascertain only some but not all the particular circumstances which determine the outcome of a given process; and in consequence we are able to predict only some but not all the properties of the result we have to expect. Often all that we shall be able to predict will be some abstract characteristic of the pattern that will appear — relations between kinds of elements about which individually we know very little. Yet, as I am anxious to repeat, we will still achieve predictions which can be falsified and which therefore are of empirical significance.
Of course, compared with the precise predictions we have learnt to expect in the physical sciences, this sort of mere pattern predictions is a second best with which one does not like to have to be content. Yet the danger of which I want to warn is precisely the belief that in order to have a claim to be accepted as scientific it is necessary to achieve more. This way lies charlatanism and worse. To act on the belief that we possess the knowledge and the power which enable us to shape the processes of society entirely to our liking, knowledge which in fact we do not possess, is likely to make us do much harm.

 

Friedrich Hayek