Vicarious Learning and Institutional Economics
Psychological insights have been present in institutional economics since its beginning. Recently, cognitive aspects of institutional economics have been highlighted. The proposal of this paper is to offer other psychological insights related to institutional economics, which are complementary to a cognitive approach. The goal is to emphasize elements of Psychological Social Learning Theory as a possible foundation of Institutional Economics. This paper argues that people vicariously learn by the observation and interpretation of exemplary behaviors. Vicarious learning relies on the comprehension of people about who/what models are. Vicariously, people are motivated to behave as a model; when they succeed, models are reinforced. As something socially and cumulatively acceptable and/or desirable, exemplary behaviors can take place repetitively and become a habit. Institutions arise as outgrowths of those habits. In this logic, a working definition of institution is a cognitive inertia about the typifications of foreseeable regularities in behaviors of people in a society.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
When requesting a correction, please mention this item's handle: RePEc:mes:jeciss:v:45:y:2011:i:4:p:839-856. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ian Winship)or (Chris Nguyen) The email address of this maintainer does not seem to be valid anymore. Please ask Chris Nguyen to update the entry or send us the correct email address
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.