On How to Decide What to Do
Volume: Volume 9, No. 2
Issue: Autumn 1978
Pages: pp. 494-507
Authors: Herbert A. Simon
Title: On How to Decide What to Do
Abstract: Economics, which has traditionally been concerned with what decisions are made rather than with how they are made, has more and more reason to interest itself in the procedural aspects of decision, especially to deal with uncertainty, and more generally, with nonequilibrium phenomena. A number of approaches to procedural rationality have been developed in such fields as operations research and management science, artificial intelligence, computational complexity, and cognitive simulation which might be of considerable value to economics as it moves in this new direction.
JEL Classification
Organization and Decision Theory (5110)