Decision theory can be pursued not only for the purposes of building foundations for political economy, or of understanding and explaining phenomena that are in themselves intrinsically interesting, but also for the purpose of offering direct advice to business and governmental decision makers. For reasons not clear to me, this territory was very sparsely settled prior to World War II. Such inhabitants as it had were mainly industrial engineers, students of public administration, and specialists in business functions, none of whom especially identified themselves with the economic sciences. Prominent pioneers included the mathematician, Charles Babbage, inventor of the digital computer, the engineer, Frederick Taylor and the administrator, Henri Fayol. During World War II, this territory, almost abandoned, was rediscovered by scientists, mathematicians, and statisticians concerned with military management and logistics, and was renamed "operations research” or "operations analysis.”.
Herbert SimonRelated topics
administration administrator advice almost building business clear computer digital engineer industrial inventor logistics mathematician none public purpose research understanding war taylor Frederick sciences operationsRelated quotes
"Sixty years ago Catholics played a prominent, prestigious, and irreplaceable part in American literary culture...They included established fiction writers--Flannery O'Connor, Katherine Anne Porter, Walker Percy, J. F. Powers, Ernest Hemingway, Paul Horgan, Jack Kerouac, Julien Green, Pietro di Donato, Hisaye Yamamoto, Edwin O'Connor, Henry Morton Robinson, and Caroline Gordon. (Sociologist Father Andrew Greeley had yet to try his formidable hand at fiction.)...also science fiction and detective writers such as Anthony Boucher, Donald Westlake, August Delerth, and Walter Miller, Jr."...in American poetry...Allen Tate, Robert Lowell, Robert Fitzgerald, Kenneth Rexroth, John Berryman, Isabella Gardner, Phyllis McGinley, Claude McKay, Dunstan Thompson, John Frederick Nims, Brother Antoninus (William Everson), Thomas Merton, Josephine Jacobsen, and the Berrigan brothers, Ted and Daniel.... There were even Catholic haiku poets, notably Raymond Roseliep and Nick Virgilio" (15-16).
Dana Gioia
In speaking of agricultural management, the French say, I'economie rurale, and the English, rural economy; and yet neither the one nor the other intend thereby to signify the absolute execution of agricultural operations, but only the division and circumstances or appurtenances of agriculture. In Germany, where a Latin or Greek name has lately been thought to give dignity to a science, and has, consequently, been introduced into the title of most of the scientific works, some authors have begun to term, not only the science of agriculture, but agriculture itself, the oekonomie; and the word is used exclusively in this sense by many persons. It is for this reason that those who are supposed to practise the art with the greatest skill and science, are termed oekonomen (economists); and that some of those who are employed in superintending the labourers, even though they frequently have not the least idea of the actual principles of agriculture, chose to be designated by this title.
Albrecht Thaer
In the period 1965 - 69, the U. S. Arms Control and Disarmament Agency employed a group of about ten young game theorists as consultants. It was as a member of this group that I developed the simpler approach, already mentioned, to the analysis of I-games.
I realized that a major problem in arms control negotiations is the fact that each side is relatively well informed about its own position with respect to various variables relevant to arms control negotiations, such as its own policy objectives, its peaceful or bellicose attitudes toward the other side, its military strength, its own ability to introduce new military technologies, and so on - but may be rather poorly informed about the other side's position in terms of such variables.
I came to the conclusion that finding a suitable mathematical representation for this particular problem may very well be a crucial key to a better theory of arms control negotiations, and indeed to a better theory of all I-games.
John Harsanyi
The truth is that the mathematical sciences are growing in complete security and harmony. The ideas of Dedekind, Poincare, and Hilbert have been systematically developed with great success, without any conflict in the results. It is only from the philosophical point of view that objections have been raised. They bear on certain ways of reasoning peculiar to analysis and set theory. These modes of reasoning were first systematically applied in giving a rigorous form to the methods of the calculus. [According to them, ] the objects of a theory are viewed as elements of a totality such that one can reason as follows: For each property expressible using the notions of the theory, it is [an] objectively determinate [fact] whether there is or there is not an element of the totality which possesses this property. Similarly, it follows from this point of view that either all the elements of a set possess a given property, or there is at least one element which does not possess it.
Paul Bernays
The global reach of Smith's moral and political reasoning is quite a distinctive feature of his thought, but it is strongly supplemented by his belief that all human beings are born with similar potential and, most importantly for policymaking, that the inequalities in the world reflect socially generated, rather than natural, disparities.
There is a vision here that has a remarkably current ring. The continuing global relevance of Smith's ideas is quite astonishing, and it is a tribute to the power of his mind that this global vision is so forcefully presented by someone who, a quarter of a millennium ago, lived most of his life in considerable seclusion in a tiny coastal Scottish town. Smith's analyses and explorations are of critical importance for any society in the world in which issues of morals, politics and economics receive attention. The Theory of Moral Sentiments is a global manifesto of profound significance to the interdependent world in which we live.
Amartya Sen