Existing uncertainties about the correct explanations for economic growth and business cycles cannot be settled by aggregative analysis within the neoclassical framework. Current disputes in theory rest largely on ad hoc, casually empirical, assumptions about departures from perfect rationality...

This article by Herbert Simon provided one of the leading alternatives to the traditional model of rational profit-maximizing behavior, bringing to the forefront of academic attention several of the key issues on which behavioral economics would eventually focus. Introduction by Lindsay...