The Economics and Rationality of Organizations: The Contribution of Herbert A. Simon (Economía y Racionalidad de Las Organizaciones: Los aportes de Herbert A. Simon)

Revista de Estudios Sociales, No. 31, pp. 84-103, December 2009

20 Pages Posted: 4 Dec 2009 Last revised: 6 Jan 2010

See all articles by Fernando Estrada

Fernando Estrada

Universidad Externado de Colombia - Facultad de Finanzas, Gobierno y Relaciones Internacionales

Date Written: December 21, 2009

Abstract

This article evaluates Herbert A. Simon’s contribution to organization theory, placing special emphasis on the idea of bounded rationality. It interprets Simon’s criticism of the orthodox version of organizational bureaucracy and extends his analysis to the institutional economics. One of Simon’s main achievements in organizational theory was analytically evaluating individual and collective behavior, clearing the way for the future studies of D. Kahneman and T. Schelling.

Note: Downloadable document is in Spanish.

Keywords: Herbert Simon, bounded rationality, decision theory, institutional economics, organizations

JEL Classification: B40, B41, D23

Suggested Citation

Estrada, Fernando, The Economics and Rationality of Organizations: The Contribution of Herbert A. Simon (Economía y Racionalidad de Las Organizaciones: Los aportes de Herbert A. Simon) (December 21, 2009). Revista de Estudios Sociales, No. 31, pp. 84-103, December 2009, Available at SSRN: https://ssrn.com/abstract=1517923

Fernando Estrada (Contact Author)

Universidad Externado de Colombia - Facultad de Finanzas, Gobierno y Relaciones Internacionales ( email )

Calle 12 # 0 - 85 Este, Barrio La Candelaria
Bogota, DC Cundinamarca 1267
Colombia
05-71 - 3419900 - ext. 1202 (Phone)

HOME PAGE: http://ideas.repec.org/f/pga454.html

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