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La ubicuidad de los hábitos y las reglas

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  • Geoffrey M. Hodgson

    () (Universidad de Hertfordshire)

Abstract

Under what circumstances is it necessary or convenient for an agent to rely on habits and rules? This paper focuses on the types of decision situation giving rise to their use. Even optimisation requires the development of rules, and for this reason mainstream economics cannot legitimately ignore these questions. It argues that habits and rules are ubiquitous in human activity, presents a new taxonomy and analyses seven types of decision situations classified according to the type of information problem involved. Neither neoclassical nor behavioural economics can provide a complete account of the bases of habits or rules in these cases.

Suggested Citation

  • Geoffrey M. Hodgson, 2000. "La ubicuidad de los hábitos y las reglas," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 2(3), pages 11-43, July-dece.
  • Handle: RePEc:rei:ecoins:v:2:y:2000:i:3:p:11-43
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    File URL: http://www.uexternado.edu.co/facecono/ecoinstitucional/workingpapers/ghodgson3.pdf
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    References listed on IDEAS

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    1. Rutherford,Malcolm, 1996. "Institutions in Economics," Cambridge Books, Cambridge University Press, number 9780521574471, March.
    2. Arrow, Kenneth J, 1982. "Risk Perception in Psychology and Economics," Economic Inquiry, Western Economic Association International, vol. 20(1), pages 1-9, January.
    3. Teece, David J & Winter, Sidney G, 1984. "The Limits of Neoclassical Theory in Management Education," American Economic Review, American Economic Association, vol. 74(2), pages 116-121, May.
    4. Geoffrey M. Hodgson (ed.), 1993. "The Economics of Institutions," Books, Edward Elgar Publishing, number 557.
    5. Buiter, Willem H, 1980. "The Macroeconomics of Dr. Pangloss: A Critical Survey of the New Classical Macroeconomics," Economic Journal, Royal Economic Society, vol. 90(357), pages 34-50, March.
    6. Pingle, Mark, 1992. "Costly optimization: an experiment," Journal of Economic Behavior & Organization, Elsevier, vol. 17(1), pages 3-30, January.
    7. Leathers, Charles G., 1990. "Veblen and Hayek on Instincts and Evolution," Journal of the History of Economic Thought, Cambridge University Press, vol. 12(02), pages 162-178, September.
    8. Conlisk, John, 1980. "Costly optimizers versus cheap imitators," Journal of Economic Behavior & Organization, Elsevier, vol. 1(3), pages 275-293, September.
    9. Field, Alexander James, 1981. "The problem with neoclassical institutional economics: A critique with special reference to the North/Thomas model of pre-1500 Europe," Explorations in Economic History, Elsevier, vol. 18(2), pages 174-198, April.
    10. Tobin, James, 1980. "Are New Classical Models Plausible Enough to Guide Policy?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 12(4), pages 788-799, November.
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    Cited by:

    1. Leandro Valiati & Pedro Cezar Fonseca, 2014. "Institutions and Culture: Thorstein Veblen’s and Pierre Bourdieu’s economic thought in dialogue," Iberian Journal of the History of Economic Thought, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales, Dpto. Historia e Instituciones Económicas I., vol. 1(1), pages 01-17, June.

    More about this item

    Keywords

    habits; rules; learning; communication; cognition; uncertainty;

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations

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