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Institutions as cognitive media between strategic interactions and individual beliefs

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  • Aoki, Masahiko

Abstract

This paper begins with contested issues among various approaches to institutions and seeks an analytical/conceptual framework for integrating them. Based on fundamental studies of knowledge theory and epistemic game theory, it discusses the role of institutions in substantive forms as societal artifacts that cognitively mediate agents’ strategic interactions and their individual beliefs in societal games. This approach is termed as the institutions-as-cognitive-media-view and its implications to the role of culture, institutional complementarities, and policy in the institutional process are discussed. It concludes with a proposal for a three-level approach to institutions: generic-ontological, comparative-substantive, and policy-design levels.

Suggested Citation

  • Aoki, Masahiko, 2011. "Institutions as cognitive media between strategic interactions and individual beliefs," Journal of Economic Behavior & Organization, Elsevier, vol. 79(1), pages 20-34.
    • Handle: RePEc:eee:jeborg:v:79:y:2011:i:1:p:20-34
    DOI: 10.1016/j.jebo.2011.01.025
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    Citations

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    Cited by:

    1. Masahiko Aoki, 2013. "Historical sources of institutional trajectories in economic development: China, Japan and Korea compared," Chapters,in: Comparative Institutional Analysis, chapter 22, pages 439-469 Edward Elgar Publishing.
    2. Etienne Farvaque & Alexander Mihailov & Alireza Naghavi, 2018. "The Grand Experiment of Communism: Discovering the Trade-Off between Equality and Efficiency," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 174(4), pages 707-742, December.
    3. repec:spr:minsoc:v:16:y:2017:i:1:d:10.1007_s11299-016-0196-1 is not listed on IDEAS
    4. Shigeki Kusunoki, 2016. "Hayek on corporate social responsibility," Constitutional Political Economy, Springer, vol. 27(1), pages 93-110, March.
    5. Degli Antoni, Giacomo & Sacconi, Lorenzo, 2013. "Social responsibility, activism and boycotting in a firm–stakeholders network of games with players’ conformist preferences," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 45(C), pages 216-226.
    6. Pietro Guarnieri & Tommaso Luzzati, 2018. "Some reflections on the "battle of the sexes"," Discussion Papers 2018/239, Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy.
    7. Aoki, Masahiko, 2014. "Economic and Political Transitions from Premodern to Modern States in the Meiji Restoration and Xinhai Revolution: A Strategic Approach," ADBI Working Papers 486, Asian Development Bank Institute.
    8. Masahiko Aoki, 2013. "Comparative Institutional Analysis," Books, Edward Elgar Publishing, number 15474.
    9. Herrmann-Pillath Carsten, 2014. "Naturalizing Institutions: Evolutionary Principles and Application on the Case of Money," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 234(2-3), pages 388-421, April.
    10. Masahiko Aoki, 2011. "The Five-Phases of Economic Development and Institutional Evolution in China and Japan," Development Economics Working Papers 23196, East Asian Bureau of Economic Research.
    11. repec:zbw:espost:198038 is not listed on IDEAS
    12. Pietro Guarnieri, 2017. "Commitment to norms and the formation of institutions," Discussion Papers 2017/227, Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy.
    13. Pavel Kuchař, 2016. "Entrepreneurship and institutional change," Journal of Evolutionary Economics, Springer, vol. 26(2), pages 349-379, May.
    14. Wirl, Franz & Feichtinger, Gustav & Kort, Peter M., 2013. "Individual firm and market dynamics of CSR activities," Journal of Economic Behavior & Organization, Elsevier, vol. 86(C), pages 169-182.
    15. repec:spr:climat:v:149:y:2018:i:3:d:10.1007_s10584-018-2254-7 is not listed on IDEAS
    16. Virginia Cecchini Manara & Lorenzo Sacconi, 2019. "Institutions, Frames, and Social Contract Reasoning," Econometica Working Papers wp71, Econometica.
    17. Frolov, Daniil, 2018. "Постинституционализм: За Пределами Институционального Мейнстрима
      [Post-institutionalism: Beyond the Institutional Mainstream]      ," MPRA Paper 90287, University Library of Munich, Germany.
    18. Francesco GUALA & Frank HINDRIKS, 2013. "A Unified Social Ontology," Departmental Working Papers 2013-20, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    19. Ruzica Simic Banovic, 2015. "(Former) Informal Networks As A Reflection Of Informal Institutions In East European Transitional Societies: Legacy Or Opportunism?," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 10(1), pages 179-205, March.
    20. Claudius Graebner & Amineh Ghorbani, 2019. "Defining institutions - A review and a synthesis," ICAE Working Papers 89, Johannes Kepler University, Institute for Comprehensive Analysis of the Economy.

    More about this item

    Keywords

    Institutions; Institutional complementarities; Cognitive media; Culture; Epistemic game; Common knowledge;

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty
    • P00 - Economic Systems - - General - - - General

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