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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…

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…

Methodological Individualism, Structural Constraints, and Social Complexity

In press: bumper themed issue guest edited by the very excellent Francesco Di Iorio 1. DI IORIO, Francesco: “Introduction: Methodological Individualism, Structural Constraints, and Social Complexity” 2. NADEAU: Robert: “Cultural Evolution, Group Selection, and Methodological Individualism” 3. ANTISERI, Dario: “Social research between the Use and Abuse of Reason” 4. PETITOT, Jean: “Complex Methodological Individualism” 5.…

Imitation and Novelty in Product Development

Here’s an extract from the third article by Ted Lewis and Richard Bergin from this special Human-Human Stigmergy issue. A human stigmergy framework for product development Many investigators over the past century have attempted to quantify human innovation as a property of social organizations such as corporations as well as individual entrepreneurs. Andergassen et al. argue that innovation appears…

Soul and skin in the game

In a world overpopulated with nth rate punditry (i.e. bad faith public intellectuals) I am of the view that one of the very few who rises above the crowd is Nassim Nicholas Taleb. He is truly independent-minded, not in any ideological or financial pocket, has theoretic/practical credibility and is the most cultivated of men. He cuts…