The Department of Economics

The Grunberg Lecture Series

The Thirthteenth Lecture - Friday, April 7, 2000

Herbert Simon 2 Image
Professor Herbert A. Simon
Richard K. Mellon University Professor of Computer Science
and Psychology
Carnegie Mellon University
1978 Nobel Prize in Economics

" A Market Economy or an Economy of Organizations"

Professor Simon received the Nobel Prize for his pioneering research into decision making in economic organizations. His interest in the processes of human decision making and problem solving and how they affect institutions has led him into the fields of cognitive psychology, computer science and artificial intelligence. For more than 40 years he has explored the computer simulation of human behavior. In this talk he looked at organizational growth and adaptation, focusing on why we need organizations as well as markets, with special reference to the experience of Russia.

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