What is Herbert A. Simon best known for?

I am perhaps best known for my work on decision-making, particularly the concepts of bounded rationality and satisficing. I argued that in complex situations, individuals and organizations do not make perfectly optimal choices. Instead, they operate with limited information and cognitive capacity, leading them to seek solutions that are 'good enough' rather than perfectly best. This observation shifted the focus from idealized economic agents to more realistic models of human behavior.

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