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Bounded Rationality in the Digital Age

The fifteenth in a series of excerpts from Minds, Models and Milieux: Commemorating the Centennial of the Birth of Herbert Simon. Peter E. Earl One of the great tragedies in economics in the decades since Simon received the 1978 Alfred Nobel Memorial Prize in Economic Sciences is that the uptake of his ideas within the discipline…

. . . but our brain can’t understand the picture

Hayek already wrote in The Sensory Order (1952) that “An apparatus of classification cannot explain anything more complex than itself” and that “The whole idea of the mind explaining itself is a logical contradiction’’. Hayek takes this incompleteness — the constitutional inability of mind to explain itself — to be a generalized case of Gödel’s Incompleteness Theorem. See…

From Bounded Rationality to Expertise

The ninth in a series of excerpts from Minds, Models and Milieux: Commemorating the Centennial of the Birth of Herbert Simon. Fernand Gobet Introduction Historically, a pervasive assumption in the social sciences, in particular economics, is that humans are perfect rational agents. Having full access to information and enjoying unlimited computational resources, they maximise utility when…

Rationality and the true human condition

The fifth in a series of excerpts from Minds, Models and Milieux: Commemorating the Centennial of the Birth of Herbert Simon. Ron Sun The notion of rationality is important to many fields in social and behavioral sciences. Herbert Simon’s seminal work on “bounded rationality” and “satisficing” led to broadened conceptions of rationality, which significantly impacted a number of…

Embodied Functionalism and Inner Complexity: Simon’s 21st-Century Mind

The second in a series of excerpts from Minds, Models and Milieux: Commemorating the Centennial of the Birth of Herbert Simon. Robert D. Rupert One can hardly underestimate Herbert Simon’s influence on contemporary cognitive science and empirically oriented philosophy of mind. Working with collaborators at Carnegie Mellon and the Rand Corporation, he wrote Logic Theorist and General Problem…

Satisficing in Political Decision Making

An open access entry. Wot? No discussion of Simon’s key The Sciences of the Artificial and broad discussion of collective intentionality? Artificial intelligenceBounded Rationalitycognitive closurecollective intentionalitycomplexityDecision makingHerbert Simonheuristicsphilosophy of social sciencesatisficing