Herbert A. Simon

Filed Under » ,
Dictionary Says

Definition of 'Herbert A. Simon'

An American economist and social scientist who won the Nobel Memorial Prize in Economics in 1978 for his contributions to modern business economics. Herbert Alexander Simon's theory of bounded rationality says that individuals do not make perfectly rational decisions because of the difficulty of obtaining all the information needed to do so.
Investopedia Says

Investopedia explains 'Herbert A. Simon'

Simon was born in 1916 in Milwaukee and died in 2001. He earned his Ph.D. from the University of Chicago and taught computer science and psychology at Carnegie Mellon University. His research also focused on artificial intelligence and computer technology. The efficient market hypothesis centers around how much information an investor has to make a decision.
Search results for

'Herbert A. Simon'

  • Microeconomics: Assumptions and Utility | Investopedia

    http://www.investopedia.com/university/microeconomics/microeconomics2.asp
    ... Nobel Memorial Prize winner in economics, Herbert A. Simon, postulated
    his theory of "satisficing" to address this apparent flaw. ...

  • Microeconomics: A Brief History | Investopedia

    http://www.investopedia.com/university/microeconomics/microeconomics1.asp
    ... In the 1950s, Herbert A. Simon (1916-2001), a 1978 Nobel Memorial Prize-winner in
    economics, introduced a simpler theory of consumer behavior called ...

Related Articles

Partner Links