Cognitive Economics

by Massimo Egidi, Salvatore Rizzello

Overview

This important collection examines the subject of cognitive economics - an interdisciplinary approach to the study of human problem solving, choice, decision making and change which explains economic transactions and the nature and evolution of organisations and institutions in an environment of structural uncertainty, scarcity and incentives.

Cognitive economics is strongly linked with many other disciplines concerning choice, such as cognitive psychology, artificial intelligence, philosophy, and the science of administration. This new approach is contributing to a wide range of economic fields such as consumer theory, economics of the firm, economics of innovation and evolutionary economics.

These path-breaking volumes will be an indispensable tool for new research in the field of cognitive economics, and of particular interest to scholars of economics, psychology and philosophy.

Product Details

ISBN-13:	9781840647808
Publisher:	Edward Elgar Publishing
Publication date:	03/28/2004
Series:	The International Library of Critical Writings in Economics series , #169
Pages:	1296
Product dimensions:	6.62(w) x 9.62(h) x (d)

About the Author

Edited by Massimo Egidi, LUISS Guido Carli University of Rome, Italy and Salvatore Rizzello, University of Piemonte Orientale, Italy

Table of Contents

Contents:

Volume I
Acknowledgements
Introduction Massimo Egidi and Salvatore Rizzello
PART I FORERUNNERS
1. Alfred Marshall (1867–8), ‘Ye Machine’, in Tizziano Raffaelli (1994), ‘Alfred Marshall’s Early Philosophical Writings’
2. Carl Menger ([1963] 1985), ‘The Analogy Between Social Phenomena and Natural Organisms: Its Limits, and the Methodological Points of View for Social Research Resulting Therefrom’
3. T.B. Veblen (1884), ‘Kant’s Critique of Judgment’
PART II SUBJECTIVISM, PERCEPTION, KNOWLEDGE
4. Michael Polanyi ([1958] 1973), ‘Articulation’
5. Gary T. Dempsey (1996), ‘Hayek’s Terra Incognita of the Mind’
6. Bruce Caldwell (1994), ‘Hayek’s Scientific Subjectivism’
7. Barry Smith (1997), ‘The Connectionist Mind: A Study of Hayekian Psychology’
8. Walter B. Weimer (1982), ‘Hayek’s Approach to the Problems of Complex Phenomena: An Introduction to the Theoretical Psychology of The Sensory Order’
9. Gerald P. O’Driscoll, Jr. and Mario J. Rizzo (1985), ‘Knowledge and Decisions’
PART III MICROFOUNDATIONS AND DECISION MAKING
10. Herbert A. Simon (1997), ‘Rationality in Decision Making’
11. Herbert A. Simon (1959), ‘Theories of Decision-Making in Economics and Behavioral Science’
12. Herbert A. Simon (1972), ‘Theories of Bounded Rationality’
13. Herbert A. Simon (1976), ‘From Substantive to Procedural Rationality’
14. Maurice Allais ([1952] 1979), ‘The Foundations of a Positive Theory of Choice Involving Risk and a Criticism of the Postulates and Axioms of the American School’ and Table of Contents to ‘The So-Called Allais Paradox and Rational Decisions under Uncertainty’
15. Herbert A. Simon and Allen Newell (1958), ‘Heuristic Problem Solving: The Next Advance in Operations Research’
16. Allen Newell, J.C. Shaw and H.A. Simon (1958), ‘Chess-Playing Programs and the Problem of Complexity’
17. Daniel Kahneman and Amos Tversky (1979), ‘Prospect Theory: An Analysis of Decision under Risk’
18. Amos Tversky and Daniel Kahneman (1986), ‘Rational Choice and the Framing of Decisions’
19. Bernard Walliser (1989), ‘Instrumental Rationality and Cognitive Rationality’
20. Daniel Kahneman ([1994] 2000), ‘New Challenges to the Rationality Assumption’
21. Herbert A. Simon (2000), ‘Bounded Rationality in Social Science: Today and Tomorrow’
Name Index

Volume II
Acknowledgements
An introduction by the editors to both volumes appears in Volume I
PART I ORGANIZATIONS AND TEAM DECISION MAKING
1. Kenneth E. Boulding (1956), ‘The Image in the Theory of Organization’
2. James G. March and Herbert A. Simon (1958), ‘Cognitive Limits on Rationality’
3. Michael Polanyi ([1958] 1973), ‘Skills’
4. James G. March (1991), ‘Exploration and Exploitation in Organizational Learning’
5. James G. March (1991), ‘How Decisions Happen in Organizations’
6. Richard R. Nelson and Sidney G. Winter (1982), ‘Skills’ and ‘Organizational Capabilities and Behavior’
7. Michael D. Cohen and Paul Bacdayan (1994), ‘Organizational Routines Are Stored as Procedural Memory: Evidence from a Laboratory Study’
8. Michael D. Cohen, Roger Burkhart, Giovanni Dosi, Massimo Egidi, Luigi Marengo, Massimo Warglien and Sidney Winter (1996), ‘Routines and Other Recurring Action Patterns of Organizations: Contemporary Research Issues’
9. Massimo Egidi and Alessandro Narduzzo (1997), ‘The Emergence of Path-dependent Behaviors in Cooperative Contexts’
PART II CHANGE AND EVOLUTION
10. Stan Metcalfe (1989), ‘Evolution and Economic Change’
11. John Foster (1993), ‘Economics and the Self-Organisation Approach: Alfred Marshall Revisited?’
12. Ulrich Witt (1995), ‘Schumpeter vs. Hayek: Two Approaches to Evolutionary Economics’
13. Massimo Egidi (1996), ‘“Creative Destruction” in Economic and Political Institutions’
14. Ulrich Witt (1997), ‘Self-organization and Economics – What is New?’
15. John Foster (1997), ‘The Analytical Foundations of Evolutionary Economics: From Biological Analogy to Economic Self-organization’
16. Ulrich Witt (1998), ‘Imagination and Leadership – The Neglected Dimension of an Evolutionary Theory of the Firm’
17. Salvatore Rizzello (2000), ‘Economic Change, Subjective Perception and Institutional Evolution’
PART III INSTITUTIONS
18. Richard N. Langlois (1986), ‘Rationality, Institutions, and Explanation’
19. Richard N. Langlois (1985), ‘Knowledge and Rationality in the Austrian School: An Analytical Survey’
20. Richard N. Langlois (1998), ‘Rule-Following, Expertise and Rationality: A New Behavioral Economics?’
21. Douglass C. North (1990), ‘Organizations, Learning, and Institutional Change’, ‘Stability and Institutional Change’, ‘The Path of Institutional Change’ and ‘Institutions, Economic Theory, and Economic Performance’
22. Arthur T. Denzau and Douglass C. North (1994), ‘Shared Mental Models: Ideologies and Institutions’
23. Salvatore Rizzello and Margherita Turvani (2000), ‘Institutions Meet Mind: The Way out of an Impasse’
Name Index

Editorial Reviews

'Economists have learned a great deal through the use of the optimising rationality paradigm (including quite a few things that ain't so). As the realization spreads that its usefulness has been pretty much exhausted, economists find themselves at long last turning to the study of how decisions are actually made. Cognitive economics is coming to the forefront. The two splendid volumes edited by Egidi and Rizzello not only collect the essential classics but also survey the present state of the field. The collection is especially valuable in its stress on the role of institutions in shaping what people learn (and what they retain) from experience. Cognitive economics carries the promise also of revitalising institutional economics.'

Axel Leijonhufvud