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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 comp… - Herbert Simon
" "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.
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About Herbert Simon
Herbert Alexander Simon (June 15, 1916 – February 9, 2001) was an American political scientist whose research ranged across the fields of cognitive psychology, computer science, public administration, economics, management, philosophy of science and sociology and was a professor, most notably, at Carnegie Mellon University. With almost a thousand often very highly cited publications he is one of the most influential social scientists of the 20th century.
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Herbert Alexander Simon
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Additional quotes by Herbert Simon
If we want a theory explaining how people play billiards, we do not want a theory of perfect billiard balls; we want a theory of what heuristics a human billiard player uses in order to plan and make a (often not quite accurate) shot. These heuristics and actions do not involve solving the differential equations of the billiard board; they involve rules of thumb and it is these practice guides to action we are trying to discover in order to explain the behavior.
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In Administrative Behavior, bounded rationality is largely characterized as a residual category — rationality is bounded when it falls short of omniscience. And the failures of omniscience are largely failures of knowing all the alternatives, uncertainty about relevant exogenous events, and inability to calculate consequences. There was needed a more positive and formal characterization of the mechanisms of choice under conditions of bounded rationality... Two concepts are central to the characterization: search and satisficing.
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