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Herbert A. Simon Defined


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Quotes of the day:

There is no moral middle ground. Indifference is not an option. ... For the sake of our children, I implore each of you to be unyielding and inflexible in your opposition to drugs.

— Oliver L. North

Herbert A. Simon (1916–2001) is an American economist and political scientist who won the Nobel Memorial Prize in Economic Sciences in 1978 for his contributions to modern business economics and administrative research. He is widely associated with the theory of bounded rationality, which states that individuals do not make perfectly rational decisions because of the difficulty in obtaining and processing all the information needed to do so.

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