Rational choice and the structure of the environment.

  title={Rational choice and the structure of the environment.},
  author={Herbert A. Simon},
  journal={Psychological review},
  volume={63 2},
  • H. Simon
  • Published 1 March 1956
  • Economics
  • Psychological review
A growing interest in decision making in psychology is evidenced by the recent publication of Edwards’ review article in the Psychological Bulletin (1) and the Santa Monica Conference volume, Decision Processes (7). In this work, much attention has been focused on the characterization of rational choice, and because the latter topic has been a central concern in economics, the theory of decision making has become a natural meeting ground for psychological and economic theory. A comparative… 
Mind and choice in economics
This paper holds that the criteria of rational behavior, so far assumed in behavioral models, are not dufficiently realistic. The point of view here presented lies upon contemporary neurobiology that
The bounds of rationality and cognitive building blocks
To better understand how humans and other animals behave, the authors must take Simon’s concept of bounded rationality seriously and integrate cognitive capacities with the structure of the environment when constructing models of behavior.
Rational After All: Toward an Improved Theory of Rationality in Economics
In this paper we critically review the literature on rational choice theory (RCT) and the critical approaches to it. We will present a concise description of the theory as defended by Gary Becker,
The articles in this book describe and organize common heuristics and show that use of such heuristic is generally the best approach to many real world problems and therefore not irrational.
Bounded rationality, ambiguity, and the engineering of choice
conceptions of bounded rationality. Recently, behavioral studies of choice have examined the second guess, the way preferences are processed in choice behavior. These studies suggest possible
Essays on bounded rationality: Individual decision and strategic interaction
Economics is a social science which, therefore, focuses on people and on the decisions they make, be it in an individual context, or in group situations. It studies human choices, in face of needs to
Individual and Social Preferences
Standard economic theory usually analyzes the decisions made by individuals as a rational process in which each individual has sound and consistent preferences and makes decisions according to the
Decision Science: A New Hope
This review will introduce the reader to different types of threshold models (counter and diffusion), their assumptions, and their ability to explain decision-making behavior, and highlight the unified threshold model as a more adequate explanation of decision- making data in comparison to previous models and theories.
Psychological Determinants of Decision Making
The chapter describes the strategy of decision making, i.e. the heuristics allowing for prompt and economical actions and defines the role of free will and self-control in the decision-making processes.
Foundations of Behavioral and Experimental Economics :
Until recently, economics was widely regarded as a non-experimental science that had to rely on observation of real-world economies rather than controlled laboratory experiments. Many commentators


Personality and Behavior Disorders
  • J. McV
  • Psychology
    Mental Health
  • 1946
tiased on Experimental and Clinical Research. Edited by J. McV. Hunt, Assistant Professor of Psychology, Brown University. 2 Volumes, published by the Ronald Press Company, in New York. Approximately
A Behavioral Model of Rational Choice
Introduction, 99. — I. Some general features of rational choice, 100.— II. The essential simplifications, 103. — III. Existence and uniqueness of solutions, 111. — IV. Further comments on dynamics,
The Living Brain
The author's style is worthy of his subject; it is always clear and assured; but it also scintillates with many a beautifully turned phrase, or allusion, which explain or underline, but never distort, his scientific statements.
Development of differential appetite in the rat.
Decision processes
  • Decision processes
  • 1954
Het Denken van den Schaker. Amsterdam: Noord-Hollandsche Uitgevers Maatschapij
  • Het Denken van den Schaker. Amsterdam: Noord-Hollandsche Uitgevers Maatschapij
  • 1946