 JOHN R. COMMONS AND HERBERT A. SIMONPost-Print from HAL Abstract: We know that H.A. SIMON and J.R. COMMONS (1862-1945) were influenced by an intellectual context which explains for a large part their works; however, we would like to emphasize that the concepts of rationality developed by both H.A. SIMON and J.R. COMMONS are very similar. Especially, we would like to clarify that J.R. COMMONS provided the basis of a paradigm of bounded rationality, and that H.A. SIMON adapted and formalized the concept. In the first section of this article, we will show that a realistic approach of human nature stresses the non-rational character of behavior, more than this. This non-rationality, or let's say, reasonableness, is the crucial issue in a theory of decision. In the second section, we will show that if their theories of decision are the core of their political economy, the difference in their objectives lead them to emphasize different implications towards in their close concept of rationality. Keywords: rationality; theory of decision; H. Simon; JR. Commons; political economy (search for similar items in EconPapers) Published in Journal of Economic Issues, 2001, Vol. XXXV (3), pp.591-605 There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00705228 Access Statistics for this paper More papers in Post-Print from HAL |
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