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Interconnecting Ecolutionary, Institutional and Cognitive Economics: Six Steps towards Understanding the Six Links

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    Abstract

    Many students of evolutionary, institutional, and cognitive economics have been aware that important links among these fields exist, and several authors have worked on bringing these links to light. Nevertheless, large parts of these links still remain poorly understood. Low interest in inter-field cooperation may be one reason, but difficulties in making these links accessible to meaningful analysis appear more constraining. After surveying the links, this paper proposes six steps towards overcoming these difficulties. It then examines how the three fields together may affect methods and results of economic analysis, in particular those concerning certain basic policy issues.

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    Paper provided by The Ratio Institute in its series Ratio Working Papers with number 48.

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    Length: 21 pages
    Date of creation: 25 May 2004
    Date of revision:
    Handle: RePEc:hhs:ratioi:0048
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    Keywords: Institutions; evolutions; unequally bounded cognition; program-based behaviors; information accounting; basic policy issues;

    Find related papers by JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • B15 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Historical; Institutional; Evolutionary
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Institutional; Evolutionary
    • N01 - Economic History - - General - - - Development of the Discipline: Historiographical; Sources and Methods

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    1. Sidney G. Winter, 1971. "Satisficing, Selection, and the Innovating Remnant," The Quarterly Journal of Economics, Oxford University Press, vol. 85(2), pages 237-261.
    2. repec:hhs:iuiwop:480 is not listed on IDEAS
    3. Armen A. Alchian, 1950. "Uncertainty, Evolution, and Economic Theory," Journal of Political Economy, University of Chicago Press, vol. 58, pages 211.
    4. Pelikan, Pavel, 1989. "Evolution, economic competence, and the market for corporate control," Journal of Economic Behavior & Organization, Elsevier, vol. 12(3), pages 279-303, December.
    5. Arthur T. Denzau & Douglass C. North, 1993. "Shared Mental Models: Ideologies and Institutions," Economic History 9309003, EconWPA.
    6. Pavel Pelikan, 1993. "Ownership of firms and efficiency: The competence argument," Constitutional Political Economy, Springer, vol. 4(3), pages 349-392, September.
    7. Pelikan, Pavel, 1997. "Allocation of Economic Competence in Teams: A Comparative Institutional Analysis," Working Paper Series 480, Research Institute of Industrial Economics.
    8. Pavel Pelikan, 2003. "Bringing institutions into evolutionary economics: another view with links to changes in physical and social technologies," Journal of Evolutionary Economics, Springer, vol. 13(3), pages 237-258, August.
    9. Pelikan, Pavel, 2003. "Bringing Institutions Into Evolutionary Economics: Another View with Links to Changes in Physical and Social Technologies," Ratio Working Papers 24, The Ratio Institute.
    10. Pelikan, P, 1992. "The Dynamics of Economic Systems, or How to Transform a Failed Socialist Economy," Journal of Evolutionary Economics, Springer, vol. 2(1), pages 39-63, March.
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