Economics of the Mind

Inbunden, Engelska, 1999

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Beskrivning

The Economics of the Mind addresses economics from the perspective of real men and women: how they assess things, decide and act. It looks at the choices we make, and calls for the assumptions which make up the foundations of economic theory to be consistent with the mechanisms which guide the workings of the human mind.The author begins by presenting an historical analysis of the role of knowledge and decision-making, taking into account the work of Hayek and Simon. Salvatore Rizzello then reconstructs the birth and development of neo-institutionalism, experimental economics and evolutionary economics. He discusses economic and social institutions and how these simplify the individual's choices related to knowledge and tasks. Specifically, he examines rules, learning and evolution in neo-institutional economics. The book breaks new ground on the role of the social sciences, and economics in particular, and suggests a move away from neoclassical economics towards a more definite link between economics, psychology and the artificial sciences.The book will be warmly welcomed by institutional and evolutionary economists, and those working in the field of economic psychology.

Produktinformation

Utgivningsdatum:1999-09-28
Mått:156 x 234 x undefined mm
Format:Inbunden
Språk:Engelska
Förlag:Edward Elgar Publishing Ltd
ISBN:9781840641639

Utforska kategorier

Nationalekonomi inom Ekonomi och Ledarskap

Mer om författaren

Salvatore Rizzello, University of Piemonte Orientale, Italy

Recensioner i media

'This is an interesting and valuable book. Drawing on contributions from economics, psychology and the cognitive sciences, the book presents a critique of some unrealistic hypotheses of neoclassical economics, and defends instead a broadly defined "neoinstitutionalist" approach to decision-making . . . The Economics of the Mind . . . deserves to be read by those concerned with the foundations of an alternative economic theory.'

Innehållsförteckning

Contents: Foreword (Massimo Egidi) Introduction Part I: Hayek’s Criticism to the Neoclassical Paradigm 1. Neoclassical Paradigm and the Anomaly of the Austrian School 2. Hayek on Competition and Knowledge 3. Mind and Institutions Part II: Simon’s Criticism: From Substantive Rationality to Procedural Rationality 4. Bounded Rationality 5. Optimizing and “Satisficing” 6. Problem-Solving 7. Decision-Making Process: Procedural Rationality and Learning 8. Economics and Psychology Part III: Neoinstitutionalism: Rules, Learning and Evolution 9. The Implications of the Neurobiological Approach for Economic Theory (I): The Decision-Making Process 10. The Implications of the Neurobiological Approach for Economic Theory (II): The Process of Exchange 11. The Implications of the Neurobiological Approach for Economic Theory (III): “Path-Dependency” 12. Transaction Costs and the New Theory of the Firm 13. Evolution, Organizations and Institutions References Index