John R. Commons and Herbert A. Simon on the Concept of Rationality

  title={John R. Commons and Herbert A. Simon on the Concept of Rationality},
  author={Joelle Forest and Caroline Mehier},
  journal={Journal of Economic Issues},
  pages={591 - 605}
H. A. Simon and J. R. Commons are known to have been influenced by an intellectual context that explains a large part of their works, but it is worth emphasizing that the concepts of rationality developed by both Simon and Commons are very similar. The aim of this paper is to make clear that Commons provided a paradigm of bounded rationality and that Simon adapted and formalized the concept. The first section of this article shows that a realistic approach to human nature stresses the non… 
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