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Combining different new approaches to human behavior in neuroeconomics, the cognitive sciences and institutional economics, this paper sketches the fundamentals of a naturalistic theory of economic order. In this endeavour, the argument follows the track laid down by Hayek's comprehensive...
Persistent link: https://www.econbiz.de/10009382379
The paper proposes to ground the taxonomy of economic systems on the identification of strongly performative institutions as distinctive features. I analyse performativity on the basis of the Aoki model of institutions, enriched by current approaches to performativity, which I combine with...
Persistent link: https://www.econbiz.de/10009575070
In his comprehensive critique of current economic approaches to social capital, Durlauf (2002) recommends a stronger reliance on methods of experimental economics and social psychology. This paper surveys different notions of social capital and submits an alternative conceptual approach based on...
Persistent link: https://www.econbiz.de/10003804950
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Building on Lea and Webley’s drug theory of money, the paper connects different theoretical resources to develop a Darwinian theory of money. The central empirical observation is the neuroeconomic result of the independent role of money as a reinforcer, which matches with a series of other...
Persistent link: https://www.econbiz.de/10003884092
Recently, Aoki proposed the concept of substantive institutions which relates outcomes of strategic interaction with public representations of equilibrium states of games. I argue that the Aoki model can be grounded in theories of distributed cognition and performativity, which I put into the...
Persistent link: https://www.econbiz.de/10008859645