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JOHN R. COMMONS AND HERBERT A. SIMON: ON THE CONCEPT OF RATIONALITY

Abstract : We know that H.A. SIMON and J.R. COMMONS (1862-1945) were influenced by an intellectual context which explains for a large part their works; however, we would like to emphasize that the concepts of rationality developed by both H.A. SIMON and J.R. COMMONS are very similar. Especially, we would like to clarify that J.R. COMMONS provided the basis of a paradigm of bounded rationality, and that H.A. SIMON adapted and formalized the concept. In the first section of this article, we will show that a realistic approach of human nature stresses the non-rational character of behavior, more than this. This non-rationality, or let's say, reasonableness, is the crucial issue in a theory of decision. In the second section, we will show that if their theories of decision are the core of their political economy, the difference in their objectives lead them to emphasize different implications towards in their close concept of rationality.
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https://halshs.archives-ouvertes.fr/halshs-00705228
Contributor : Joelle Forest Connect in order to contact the contributor
Submitted on : Thursday, June 7, 2012 - 10:40:21 AM
Last modification on : Friday, September 10, 2021 - 10:08:01 AM

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  • HAL Id : halshs-00705228, version 1

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Joelle Forest. JOHN R. COMMONS AND HERBERT A. SIMON: ON THE CONCEPT OF RATIONALITY. Journal of Economic Issues, Newfound Press, 2001, Vol. XXXV (3), pp.591-605. ⟨halshs-00705228⟩

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