Go offline with the Player FM app!
Lex Phonographica 10: Herbert A. Simon, Rationality in Psychology and Economics (1986)
Manage episode 298203519 series 2536565
In 1986, the American economist, political scientist and cognitive psychologist Herbert Simon published "Rationality in Psychology and Economics" in the Journal of Business. Continuing with Simon's critique of neoclassical assumptions of economic behavior, Simon asserts that the standard of rationality used in neoclassical economic analysis is insufficient to analyze the real world. In particular, he critiques the over-use of assumptions in the works of Gary Becker and others, that he contends makes economic science unreplicable and ascientific. "Research into the decision-making process within economic organizations" won Simon the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel in 1978.
This article was read by Luce Nguyen, who is on Twitter at @NguyenLuce.
Hosted on Acast. See acast.com/privacy for more information.
786 episodes
Manage episode 298203519 series 2536565
In 1986, the American economist, political scientist and cognitive psychologist Herbert Simon published "Rationality in Psychology and Economics" in the Journal of Business. Continuing with Simon's critique of neoclassical assumptions of economic behavior, Simon asserts that the standard of rationality used in neoclassical economic analysis is insufficient to analyze the real world. In particular, he critiques the over-use of assumptions in the works of Gary Becker and others, that he contends makes economic science unreplicable and ascientific. "Research into the decision-making process within economic organizations" won Simon the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel in 1978.
This article was read by Luce Nguyen, who is on Twitter at @NguyenLuce.
Hosted on Acast. See acast.com/privacy for more information.
786 episodes
All episodes
×Welcome to Player FM!
Player FM is scanning the web for high-quality podcasts for you to enjoy right now. It's the best podcast app and works on Android, iPhone, and the web. Signup to sync subscriptions across devices.