The impact of institutions on the decision how to decide
AbstractThe human mind is not a general problem solving machine. Instead of deliberately, consciously and serially processing the available information, men can rely on routines, rules, roles or affect for the purpose. They can bring in technology, experts or groups. For all of these reasons, men have a plurality of problem solving modes at their disposition. Often, the meta-choice of problem solving mode matters for behavioural output. Some performance standards are only to be met if a certain problem solving mode is used, like a well-established skill. Other requirements are easier to fulfil with some problem solving modes. This explains why institutions frequently impact on the choice of problem solving mode. To show how institutions are able to do that, a model of problem solving modes is developed. It allows to systematise the access points for institutional intervention.
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Bibliographic InfoArticle provided by Cambridge University Press in its journal Journal of Institutional Economics.
Volume (Year): 3 (2007)
Issue (Month): 03 (December)
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Other versions of this item:
- Christoph Engel & Elke U. Weber, 2006. "The Impact of Institutions on the Decision How to Decide," Working Paper Series of the Max Planck Institute for Research on Collective Goods 2006_19, Max Planck Institute for Research on Collective Goods.
- D10 - Microeconomics - - Household Behavior - - - General
- D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
- K20 - Law and Economics - - Regulation and Business Law - - - General
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- L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
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