Herbert A. Simon

Date of Birth: June 15, 1916

Zodiac Sign: Gemini

Date of Death: February 9, 2001

Biography

Herbert Alexander Simon was an influential American economist, political scientist, cognitive psychologist, and computer scientist. He was born on June 15, 1916, in Milwaukee, Wisconsin. Simon made significant contributions to a number of fields, most notably in the study of decision-making processes within economic organizations. He is best known for his theory of “bounded rationality,” which challenges the traditional notion that individuals are fully rational decision-makers. Simon introduced the concept that people are “satisficers,” meaning they seek a satisfactory solution rather than an optimal one because of the limitations in their information processing capabilities. Simon earned his undergraduate degree at the University of Chicago in 1936 and subsequently received his Ph.D. in political science from the same institution in 1943. His academic career was primarily associated with Carnegie Mellon University, where he held various positions, including the Richard King Mellon University Professor of Computer Science and Psychology. In 1978, Simon was awarded the Nobel Memorial Prize in Economic Sciences for his pioneering research into the decision-making process within economic organizations. His interdisciplinary work extended to artificial intelligence, where he was one of the founding figures. Simon’s contributions have left a lasting impact on economics, psychology, and computer science.

5 Interesting Facts about Herbert A. Simon

1. Herbert A. Simon was awarded the Nobel Memorial Prize in Economic Sciences in 1978.

2. He was a pioneer in the field of artificial intelligence and was involved in the creation of the Logic Theory Machine and the General Problem Solver.

3. Simon was one of the first to use the term “bounded rationality” to describe the limits of human decision-making.

4. He published over 1,000 papers and wrote numerous influential books, including “Administrative Behavior” and “The Sciences of the Artificial.”

5. Simon was a member of the National Academy of Sciences and received numerous other awards, including the A.M. Turing Award in 1975 for his contributions to artificial intelligence.

5 Most Interesting Quotes from Herbert A. Simon

1. “A wealth of information creates a poverty of attention.”

2. “The proper study of mankind is the science of design.”

3. “Human beings, viewed as behaving systems, are quite simple. The apparent complexity of our behavior over time is largely a reflection of the environment in which we find ourselves.”

4. “The engineer, and more generally the designer, is concerned with how things ought to be—how they ought to be in order to attain goals, and to function.”

5. “One finds limits by pushing them.”

Highest Net Worth Achieved

Herbert A. Simon’s highest net worth is not widely documented, but his substantial academic contributions and accolades, including the Nobel Prize, signify a highly distinguished career.