Herbert A. Simon

Herbert A. Simon (1916–2001) was an American economist, political scientist, and psychologist, renowned for his research on decision-making and artificial intelligence. Born in Milwaukee, USA, he taught for many years at Carnegie Mellon University. In 1978, he was awarded the Nobel Prize in Economic Sciences for his pioneering research into the decision-making process within economic organizations. Simon introduced the concept of "bounded rationality"—the idea that humans lack full information and cognitive capacity to compute all possible outcomes, leading them to choose decisions that are "good enough" rather than optimal. He also made significant contributions to the development of artificial intelligence, cognitive psychology, and organization theory, and received the Turing Award in 1975. He passed away in 2001 in Pittsburgh.