Simon and Knight

J. C. Spender

MPRA Paper from University Library of Munich, Germany

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.

Keywords: Herbert Simon; Frank Knight; Economics (search for similar items in EconPapers)
JEL-codes: B30 N0 (search for similar items in EconPapers)
Date: 2024
New Economics Papers: this item is included in nep-his and nep-hpe
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