Simon and Knight

Spender, J. C. (2024): Simon and Knight.

Abstract

This chapter contrasts Simon's approach with that of Frank Knight, who was a significant figure in the Chicago economics department at the time. It explores how Simon's ideas, such as bounded rationality and satisficing, have been influential in fields like management and artificial intelligence, despite being somewhat overlooked by mainstream economics and public administration.

• Item Type: MPRA Paper
• Language: English
• Keywords: Herbert Simon, Frank Knight, Economics
• Subjects: B - History of Economic Thought, Methodology, and Heterodox Approaches > B3 - History of Economic Thought: Individuals > B30 - General; N - Economic History > N0 - General

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