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The Cognitive Basis of Institutions

A Synthesis of Behavioral and Institutional Economics

1st Edition - February 16, 2018

Author: Shinji Teraji

Language: English
Paperback ISBN:
9 7 8 - 0 - 1 2 - 8 1 2 0 2 3 - 1
eBook ISBN:
9 7 8 - 0 - 1 2 - 8 1 2 0 4 5 - 3

The Cognitive Basis of Institutions: A Synthesis of Behavioral and Institutional Economics synthesizes modern research in behavioral economics with traditional instituti… Read more

The Cognitive Basis of Institutions

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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.