Herbert A. Simon (Nobel laureate)

Herbert A. Simon was an American economist, political scientist, and psychologist, awarded the Nobel Prize in Economic Sciences in 1978. He is renowned for his work on decision-making and problem-solving within organizations. Simon introduced the concept of "bounded rationality," suggesting that individuals make decisions based on limited information and cognitive limitations, rather than perfect rationality. His research influenced various fields, including economics, artificial intelligence, and cognitive psychology, emphasizing the interplay between human behavior and organizational processes. Simon’s ideas laid foundational work for understanding how people think and make choices in complex environments.