In this essay, we argue that the rational choice (RC) provides an inadequate foundation for a theory of economic action. After defining RC sufficiently broadly to encompass much of the bounded rationality literature as well as neoclassical optimization theory, we present three principal...

This working paper reports the main lines of discussion that developed during a four-day workshop held August 10-13, 1995, at the Santa Fe Institute, Santa Fe, New Mexico. The workshop was devoted to exploring the difficulties and promise of current research on organizational routines and...