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.

David Hume e as finanças de James I

RESUMOEste artigo examina a análise de David Hume realizada em seu livro História da Inglaterra, da luta entre o parlamento e o rei James I sobre as finanças da coroa durante o primeiro trimestre do século XVII. Inicialmente, são apresentados os principais elementos políticos por trás da briga no coração do poder político da Inglaterra, seguidos por comentários do escritor escocês sobre as finanças reais, com ênfase nos seus pontos de vista sobre as receitas e despesas da Coroa durante o reinado de James I. No final são recuperados os fatores de longo prazo elencados como determinantes da nova postura parlamentar.

Mr [James Henry] Thomas quittant Downing Street [secrétaire général de la NUR, National Union of Railwaymen] : [photographie de presse] / [Agence Rol]

Référence bibliographique : Rol, 56198

Mr [James] O'Grady arrivant à Caxton Hall [membre du Parlement anglais et secrétaire de la National Federation of General Workers] : [photographie de presse] / [Agence Rol]

Référence bibliographique : Rol, 56233

[James Middleton] Cox, gouverneur de l'Ohio : [photographie de presse] / [Agence Rol]

Référence bibliographique : Rol, 58595