Simon and the Sirens: A Commentary

Even in its extended usage, the concept of bounded rationality bears the birthmark of its origins in economics. First and most obviously, it is about seeking the most efficient (not necessarily the best) means toward a given end, whether that is curing patients or proving theorems. Second, the means...

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Bibliographic Details
Published in:	Isis 2015-09, Vol.106 (3), p.669-676
Main Author:	Daston, Lorraine
Format:	Article
Language:	eng
Subjects:	Agnosticism Algorithms Artificial Intelligence - history Bounded rationality Cognition Economic bubbles Economic theory Economics - history Epistemology Financial Management - history Focus: Bounded Rationality and the History of Science Heuristics History of medicine and histology History of science Humans Knowledge Logic Logical theorems Methodism Philosophy, Medical - history Rationality Reason Science - history
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Summary:	Even in its extended usage, the concept of bounded rationality bears the birthmark of its origins in economics. First and most obviously, it is about seeking the most efficient (not necessarily the best) means toward a given end, whether that is curing patients or proving theorems. Second, the means are whittled down to the most parsimonious possible, not only acknowledging cognitive limitations but actually imposing them, whether in the form of Morgan’s canon, Methodist agnosticism about causes, or Entscheidungsproblem-like restrictions on the acceptable formulation of mathematical proofs. Third, these parsimonious restrictions all tend to minimize the role of reasonable deliberation in rationality, albeit in different ways. As an object of inquiry for the history of science, bounded rationality has great promise. But as a model of the history of science, as one long exercise in bounded rationality, its utility may apply more to future than past science.
ISSN:	0021-1753 1545-6994