Quote by Herbert Simon

“In the past half century, however, an impressive body of formal theory has been erected by mathematical statisticians and economists to help us reason…

— Herbert Simon

We used to have just one criterion and that was profit, and then another criterion was added - social welfare. Now we have to…

— Mikhail Gorbachev

Given our inevitably incomplete knowledge about key structural aspects of our ever-changing economy and the sometimes asymmetric costs or benefits of particular outcomes, a…

— Alan Greenspan

“In any system, the component with the most strategic options controls the outcome.”

— Abdullah Ansari Qadri

“it’s clear now that there are three cognitive features at the heart of prospect theory. They play an essential role in the evaluation of…

— Daniel Kahneman

Strategy is a pattern in a stream of decisions

— Henry Mintzberg

The bottom line is down where it belongs – at the bottom. Far above it in importance are the infinite number of events that…

— Paul Hawken

“As Adam Smith argued more than two centuries ago, when individuals freely pursue their own self-interests—presumably, even their most trivial desires—the aggregate effect is…

— Paul Roberts

Given our inevitably incomplete knowledge about key structural aspects of an everchanging economy and the sometimes asymmetric costs or benefits of particular outcomes, a…

— Alan Greenspan

The principles applied in economic processes are general social principles.

— Thomas Sowell

Economists have the correct insight that economics is a theory of choice, the key to the story is the variety of options and centralised…

— Douglass North

“The core premise of economic theory is that people choose by optimizing.”

— Richard H. Thaler