Valuation models and Simon's bounded rationality

This paper aims at reconciling the evidence that sophisticated valuation models are increasingly used by companies in their investment appraisal with the literature of bounded rationality, according to which objective optimization is impracticable in the real world because it would demand an immense level of sophistication of the analytical and computational processes of human beings. We show how normative valuation models should rather be viewed as forms of reality representation, frameworks according to which the real world is perceived, fragmented for a better understanding, and recomposed, providing an orderly method for undertaking a task as complex as the investment decision.

Herbert A. Simon and the concept of rationality: boundaries and procedures

This paper discusses Herbert A. Simon's conception of rationality in two of its principal general definitions: bounded rationality and procedural rationality. It argues that the latter is the one that better synthesizes the author's view about rational behavior and that the former fills mainly a critical function. They are complementarily used by Simon in this sense. In spite of that, it is argued that it is the low degree of specificity of the concept of bounded rationality one of the reasons for its relatively greater success.

Régates de Henley, [Jack] Beresford [vainqueur du Diamond Challenge Sculls] : [photographie de presse] / [Agence Rol]

Référence bibliographique : Rol, 59930

Histoire du petit Jack , par l'auteur de Sandford et Merton. Traduit de l'anglais

Titre original : The history of little Jack

Départ de [Georges] Carpentier [de New-York pour revenir en France, de gauche à droite] Harry Pollok, Descamps, Jack Kearns, Carpentier, [William A.] Brady, Jack Curley : [photographie de presse] / [Agence Rol]

Référence bibliographique : Rol, 60168

Jack Moakley [entraîneur] qui accompagne les athlètes américains aux olympiades d'Anvers : [photographie de presse] / [Agence Rol]

Référence bibliographique : Rol, 60192

(Arrêt du Grand Conseil qui ordonne la suppression d'un libelle intitulé : "Mémoire pour Messire Gui-Michel Billard de Lorière, conseiller au Grand Conseil, contre dame Marie-Henriette de Saint-Simon, son épouse.)

[Acte. 1755-08-30. Paris]