The Cognitive Basis of Institutions

The Cognitive Basis of Institutions

A Synthesis of Behavioral and Institutional Economics

1st Edition - February 16, 2018

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  • Author: Shinji Teraji
  • eBook ISBN: 9780128120453
  • Paperback ISBN: 9780128120231

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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.

Key Features

  • Reveals how institutional structures and individual actions interact and coevolve cognitively
  • Connects individual decision-making, decision-making processes and institutional formation
  • Unites our understanding of cooperative ‘prosocial’ behavior with the institutional dynamics that may create it
  • Discusses the implications of the behavioral-institutional paradigm for paternalism and libertarianism in public policy

Readership

Graduate and first year PhD students of behavioral economics and institutional economics, and related cognitive perspectives

Table of Contents

  • 1. Introduction: What Are Institutions?
    2. Institutions and the Economics of Behavior I
    3. Institutions and the Economics of Behavior II
    4. Why Bounded Rationality?
    5. Emergence of Prosocial Behavior
    6. Cognition and Order
    7. Society and Knowledge
    8. Understanding Institutional Evolution

Product details

  • No. of pages: 366
  • Language: English
  • Copyright: © Academic Press 2018
  • Published: February 16, 2018
  • Imprint: Academic Press
  • eBook ISBN: 9780128120453
  • Paperback ISBN: 9780128120231

About the Author

Shinji Teraji

Shinji Teraji, Professor of Economics, Department of Economics, Yamaguchi University, Yamaguchi, Japan

Affiliations and Expertise

Professor of Economics, Department of Economics, Yamaguchi University, Yamaguchi, Japan

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