Artikel

Institutions as game theory outcomes: Towards a cognitive-experimental inquiry

This paper investigates two different approaches to the analysis of institutions using game theory and discusses their methodological and theoretical implications for further research. Starting from von Neumann and Morgenstern's theory, we investigate, how Schotter and Schelling's approaches to the analysis of economic institutions contribute to develop a proper cognitive method to investigate institutions as the unplanned outcome of self- interested individual behavior? While the game theory model developed by Schotter does not allow to encompass the complexity of decision-making processes leading to the emergence of institutions, Schelling's empirical approach contributes to the cognitive inquiry into economic institutions and it opens the way to an interdisciplinary research method in which pure theory, empirical research and insight coming from different research fields work together. Starting form Schelling's work it is possible to draw the progress achieved by the cognitive economics of institutions and to suggest the need of further experimental and empirical research to better understand the cognitive dynamics that shape human behavior and influence the emergence of economic institutions.

Language
Englisch

Bibliographic citation
Journal: International Journal of Management, Economics and Social Sciences (IJMESS) ; ISSN: 2304-1366 ; Volume: 2 ; Year: 2013 ; Issue: 2 ; Pages: 129-150 ; Houston, TX: IJMESS Int'l Publishers

Classification
Wirtschaft
History of Economic Thought since 1925: Historical; Institutional; Evolutionary; Austrian; Stockholm School
Economic Methodology: General
Current Heterodox Approaches: Austrian
Game Theory and Bargaining Theory: General
Institutions: Design, Formation, Operations, and Impact
Money and Interest Rates: General
Subject
institutions
game theory
cognition
Hayek
Schotter
Schelling

Event
Geistige Schöpfung
(who)
Ambrosino, Angela
Event
Veröffentlichung
(who)
IJMESS Int'l Publishers
(where)
Houston, TX
(when)
2013

Handle
Last update
10.03.2025, 11:45 AM CET

Data provider

This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.

Object type

  • Artikel

Associated

  • Ambrosino, Angela
  • IJMESS Int'l Publishers

Time of origin

  • 2013

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