Models of bounded rationality vol. 1

Volume 1 : Economic analysis and public policy

Models of Bounded Rationality Volume 1: Economic Analysis and Public Policy
Volume 2: Behavioral Economics and Business Organization by Herbert A. Simon

In these two volumes, Herbert Simon, the 1978 Nobel Prize laureate in Economics, has brought the insights of decision theory, organizational theory (especially as it applies to the business firm), behavior modeling. cognitive psychology, and the study of artificial intelligence to bear on economic questions. This has led not only to new conceptual dimensions for theoretical constructions but also to a new humanizing realism in economics, a way of taking into account and dealing with human behavior and interactions that lie at the root of all economic activity.

The sixty papers-and essays are grouped under eight sections, each with a brief introductory essay. These are: Some Questions of Public Choice. Rational Choice Under Uncertainty, Technological Change. Structure of Economic Systems. The Business Firm as an Organization. The Economics of Information Processing, Economics and Psychology, and Substantive and Procedural Reality.
Most of Simon's papers on classical and neoclassical economic theory are contained in volume one. The second volume collects his papers on behavioral theory, with some overlap between the two volumes.