"... 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."
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Cited in P. Slovic (1972, p.2)Herbert Simon
» Herbert Simon - all quotes »
The ontological concept of truth is in the centre of a logic which may serve as a model of pre- technological rationality. It is the rationality of a two-dimensional universe of discourse which, contrasts with the of thought and behavior that develop in the execution of the technological project.
Herbert Marcuse
The world you perceive is drastically simplified model of the real world. (p.xxvi)
Herbert Simon
"All that most economists know about Herbert Simon is that he wrote about bounded rationality and organizational behavior."
Herbert Simon
What if [Obama] is so outside our comprehension, that only if you understand Kenyan, anti-colonial behavior, can you begin to piece together [his actions]? That is the most accurate, predictive model for his behavior.
Newt Gingrich
In 1879, American economist Francis Walker tried to explain why members of his profession were in such "bad odor amongst real people". He blamed it on their inability to understand why human behavior fails to comply with economic theory. We do not always act the way economists think we should, mainly because we're both less selfish and less rational than economists think we are. Economists are being indoctrinated into a cardboard version of human nature, which they hold true to such a degree that their own behavior has begun to resemble it. Psychological tests have shown that economics majors are more egoistic than the average college student. Exposure in class after class to the capitalist self-interest model apparently kills off whatever prosocial tendencies these students have to begin with. They give up trusting others, and conversely others give up trusting them. Hence the bad odor.
Frans de Waal
Simon, Herbert
Simon, Julian
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