Cognitive and institutional perspectives of eco effiency: A new research landscape towards factor four (or more)
The paper sketches out a theoretical framework for analysing the interplaybetween eco-efficiency, cognition and institutions. It derives from analyticalshortfalls of the prevailing literature, which features strongly engineering andbusiness economics, by using insights from New Institutional Economics, fromCognitive Sciences and, partly, from Evolutionary Economics. It emphasises therole cognition and institutions play in the adoption of green technologies byfirms. A cognitive perspective derives from recent research on simple heuristicsand context-based rationality; it is proposed that those recent findings can serve toanalyse decision-making of individual actors or firms and, thus, should complement economic analysis. A second proposition is that eco-efficiency and normative rules such as a Factor Four strongly rely upon institutions, i.e. theability of institutions to evolve over time and the development of those institutionsthat are most appropriate to enhance technological change. In this regard, businessinstitutions and competition are crucial, but regulatory needs remain in order tosafeguard continuity of knowledge creation. The framework allows for an analysiswhy overall adoption of eco-efficiency still can be considered relatively slow andwhy some markets and firms are far ahead. As a brief case study the articlereflects upon German waste law's ability to enhance eco-efficiency.
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| Length: | |
| Date of creation: | 2002 |
| Handle: | RePEc:zbw:wuppap:123 |
| Contact details of provider: | Web page: http://wupperinst.org/
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References listed on IDEAS
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- Brian J. Loasby, 2001. "special issue: Cognition, imagination and institutions in demand creation," Journal of Evolutionary Economics, Springer, vol. 11(1), pages 7-21.
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- Rosenberg,Nathan, 1994. "Exploring the Black Box," Cambridge Books, Cambridge University Press, number 9780521459556, November.
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- Richard R. Nelson, 1995. "Recent Evolutionary Theorizing about Economic Change," Journal of Economic Literature, American Economic Association, vol. 33(1), pages 48-90, March.
- Joseph Stiglitz, 1998. "Distinguished Lecture on Economics in Government: The Private Uses of Public Interests: Incentives and Institutions," Journal of Economic Perspectives, American Economic Association, vol. 12(2), pages 3-22, Spring.
- Schlicht, Ekkehart, 1998. "On Custom in the Economy," OUP Catalogue, Oxford University Press, number 9780198292241, April.
- Hukkinen, Janne, 2001. "Eco-efficiency as abandonment of nature," Ecological Economics, Elsevier, vol. 38(3), pages 311-315, September.
- Soderbaum, Peter, 1999. "Values, ideology and politics in ecological economics," Ecological Economics, Elsevier, vol. 28(2), pages 161-170, February. Full references (including those not matched with items on IDEAS)
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