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It is impossible for the behavior of a single, isolated individual to — Herbert A. Simon

"It is impossible for the behavior of a single, isolated individual to reach a high degree of rationality. The number of alternatives he must explore is so great, the information he would need to evaluate them so vast that even an approximation to objective rationality is hard to conceive. Individual choice takes place in rationality is hard to conceive... Actual behavior falls short in at least three ways, of objective rationality:"
Herbert A. Simon
Herbert A. Simon
Herbert A. Simon
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Herbert Alexander Simon was an American scholar whose work influenced the fields of computer science, economics, and cognitive psychology. His primary research interest was decision-making within organizations and he is best known for the theories of "bounded rationality" and "satisficing". He and Allen Newell received the ACM Turing Award in 1975, and he received the Nobel Memorial Prize in Econo

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"In these two essays [the papers of 1955 and 1956] the focus is upon ways of simplifying the choice problem to bring it within the power of human computation... The key to the simplification of the choice process in both cases is the replacement of the goal of maximizing with the goal of satisficing, of finding a course of action that is ‘good enough’. I have tried, in these two essays, to show why this substitution is an essential step in the application of the principle of bounded rationality."
Herbert A. SimonHerbert A. Simon