Skip to main content

From substantive to procedural rationality

  • Chapter
Book cover 25 Years of Economic Theory

Abstract

Rational human behavior has been a central object of study in the two distinct disciplines of economics and cognitive psychology. A person unfamiliar with the histories and contemporary research preoccupations of these two disciplines might imagine that there were close relations between them — a constant flow of theoretical concepts and empirical findings from the one to the other and back. In actual fact, communication has been quite infrequent. In the United States, at least, there seem to be no doctoral programs in economics that require their students to master the psychological literature of rational choice, and no psychology programs that insist that their students become acquainted with economic theories of rationality. (I would be gratified to learn that such programs exist, but if they do, they are inconspicuous in the extreme.)

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 39.99
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 54.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  1. Chase, W.G. and H.A. Simon, “Skill in Chess,” American Scientist, LXI (1973), pp. 394–403.

    Google Scholar 

  2. Chase, W.G. and H.A. Simon, “Perception in Chess,” Cognitive Psychology, IV (1973), pp. 55–81.

    Article  Google Scholar 

  3. Clarkson, G.P.E., “A Model of the Trust Investment Process,” in Feigenbaum and Feldman (eds.) Computers and Thought, New York, 1963.

    Google Scholar 

  4. Cyert, R.M., E.A. Feigenbaum and J.G. March, “Models in a Behavioral Theory of the Firm,” Behavioral Science, IV (1959), pp. 81–95.

    Google Scholar 

  5. Dorfman, R., P.A. Samuelson and R.M. Solow, Linear Programming and Economic Analysis, New York, 1958.

    Google Scholar 

  6. Edwards, W., “Conservatism in Human Information Processing,” in B. Kleinmuntz (ed.), Formal Representation of Human Judgment, New York, 1968, pp. 17–52.

    Google Scholar 

  7. Feldman, J., “Simulation of Behavior in the Binary Choice Experiment,” in Feigenbaum and Feldman (eds.), Computer and Thought, New York, 1963.

    Google Scholar 

  8. Groot, A.D. de, Thought and Choice in Chess, Den Haag, 1965.

    Google Scholar 

  9. Gould, J. and W.L. Kolb (eds.), A Dictionary of the Social Sciences, Glencoe, 1964.

    Google Scholar 

  10. Hall, R.L. and C.J. Hitch, “Price Theory and Business Behavior,” Oxford Economic Papers, II (1939), pp. 12–45.

    Google Scholar 

  11. Holt, C.C., F. Modigliani, J.F. Muth and H.A. Simon, Planning Production, Inventories and Work Force, Englewood Cliffs, N.J., 1960.

    Google Scholar 

  12. James, W., Principles of Psychology, 1890.

    Google Scholar 

  13. Jorgenson, D.W., “Capital Theory and Investment Behavior,” American Economic Review, Papers and Proceedings, LIII (1963), pp. 247–259.

    Google Scholar 

  14. Kahneman, D. and A. Tversky, “On the Psychology of Prediction,” Psychological Review, LXXX (1973), pp. 237–251.

    Article  Google Scholar 

  15. Muth, J.F., “Rational Expectations and the Theory of Price Movements,” Econometrica, XXIX (1961), pp. 315–335.

    Article  Google Scholar 

  16. Newell, A. and H.A. Simon, Human Problem Solving, Englewood Cliffs, N.J., 1972.

    Google Scholar 

  17. Rapaport, A. and T.S. Wallsten, “Individual Decision Behavior,” Annual Review of Psychology, XXIII (1972), pp. 131–176.

    Article  Google Scholar 

  18. Simon, H.A., The Sciences of the Artificial, Cambridge, Mass., 1969.

    Google Scholar 

  19. Soelberg, P., A Study of Decision Making: Job Choice, Ph.D. Dissertation, Carnegie-Mellon University, 1967.

    Google Scholar 

  20. Theil, H., Economic Forecasts and Policy, Amsterdam, 1958.

    Google Scholar 

  21. Tinbergen, J., On the Theory of Economic Policy, Amsterdam, 1952.

    Google Scholar 

Download references

Authors

Editor information

T. J. Kastelein S. K. Kuipers W. A. Nijenhuis G. R. Wagenaar

Rights and permissions

Reprints and permissions

Copyright information

© 1976 H. E. Stenfert Kroese bv, Leiden, the Netherlands

About this chapter

Cite this chapter

Simon, H.A. (1976). From substantive to procedural rationality. In: Kastelein, T.J., Kuipers, S.K., Nijenhuis, W.A., Wagenaar, G.R. (eds) 25 Years of Economic Theory. Springer, Boston, MA. https://doi.org/10.1007/978-1-4613-4367-7_6

Download citation

  • DOI: https://doi.org/10.1007/978-1-4613-4367-7_6

  • Publisher Name: Springer, Boston, MA

  • Print ISBN: 978-90-207-0637-6

  • Online ISBN: 978-1-4613-4367-7

  • eBook Packages: Springer Book Archive

Publish with us

Policies and ethics