Herbert A. Simon

economist

Herbert A. Simon was an American economist, political scientist, and cognitive psychologist who was awarded the Nobel Prize in Economic Sciences in 1978. He is renowned for his pioneering work in the fields of decision-making, problem-solving, and organizational behavior. Simon introduced the concept of 'bounded rationality,' which suggests that individuals make decisions based on limited information and cognitive limitations, rather than on a comprehensive understanding of all available options. His influential writings, including 'The Proverbs of Administration,' have significantly shaped the study of management and public administration, emphasizing the importance of empirical evidence over traditional administrative principles. Simon's interdisciplinary approach has left a lasting legacy across various fields, including economics, artificial intelligence, and psychology.

Born on Jun 15, 1916 (109 years old)