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HERBERT A. SIMON. Typed Note signed: "Herbert A. Simon", 1p, 8½x11. Undated reply at bottom of a typed letter, 1990 March 31, from a Mr. Stanhope asking about the basis for Simon's Nobel Prize winning discovery. In full: "The Nobel Committee cited me for my 'pioneering research into the decision-making process within economic organizations,' and referred to my book, Administrative Behavior (Macmillan, 3rd edition, 1976). Sincerely yours." Simon (1916-2001) of the Carnegie-Mellon University received the 1978 Nobel Prize in Economics "for his pioneering research into the decision-making process within economic organizations." Classical economists had argued that people make rational choices to obtain the best commodity at the best price. Dr. Simon said that was impossible -- too many choices and too little time to analyze them cause people to choose the first option that is good enough to meet their needs. Lightly creased. Staple holes at upper left. Pencil note (unknown hand) in upper right. Vertical fold touches "t" in signature. Otherwise, fine condition.

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Born: June 15, 1916 in Milwaukee, Wisconsin
Died: February 9, 2001 in Pittsburgh, Pennsylvania

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