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Economics and Cognitive Science

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Author Info
Douglass C. North (Washington University)

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Abstract

The neo-classical approach to analyzing the performance of an economy assumes that in the face of pervasive scarcity individuals make choices reflecting a set of desires, wants or preferences. But valuable as this model has been for the development of an elegant body of theory it is a very imperfect tool for solving economic problems both at a moment of time but particularly over time. The puzzle I seek to unravel is how do humans evolve and believe in theories in the face of uncertainty.

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Publisher Info
Paper provided by EconWPA in its series Economic History with number 9612002.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 8 pages
Date of creation: 05 Dec 1996
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Handle: RePEc:wpa:wuwpeh:9612002

Note: Type of Document - Word; prepared on PC;print on HP Laser; 8 pages
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Web page: http://129.3.20.41

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Related research
Keywords: cognitive uncertainty development;

Find related papers by JEL classification:
N - Economic History

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Cited by:
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  1. Tilman Slembeck, 1999. "Low Information Games - Experimental Evidence on Learning in Ultimatum Bargaining," Experimental 9905001, EconWPA. [Downloadable!]
  2. Olsson, Ola, 2000. "A Microeconomic Analysis of Institutions," Working Papers in Economics 25, Göteborg University, Department of Economics. [Downloadable!]
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This page was last updated on 2009-11-13.

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