Cognitive Basis of Institutions
Subtitle: A Synthesis of Behavioral and Institutional Economics
Publisher: Elsevier Science & Technology Books
Published: 2018
Language: eng
Number of pages: 300
ISBN-13: 9780128120231
Subjects: Institutional economics
Description: The Cognitive Basis of Institutions: A Synthesis of Behavioral and Institutional Economics synthesizes modern research in behavioral economics with traditional institutional economics. This work emphasizes that institution and agent are inextricably linked, and that both cognitive and institutional processes coalesce to influence human decision-making. It integrates cognition and institution through the behavioral economics theoretical lens of bounded rationality. Methodologically, it develops game-theoretical, complexity and neuroeconomic solutions to unite study of the two areas. The work concludes by proposing general implications for the economic study of decisions using the cognitive-institutional approach, also providing specific recommendations for public policy.