Learning Theory as a possible foundation of Institutional Economics. This paper argues that people vicariously learn by the … observation and interpretation of exemplary behaviors. Vicarious learning relies on the comprehension of people about who …. Institutions arise as outgrowths of those habits. In this logic, a working definition of institution is a cognitive inertia about …

The study presented in this paper describes preliminary findings on changes in the adoption of different learning … firms with regards to learning, and focuses on changes in learning trends owing to different market conditions brought about … important associations between different kinds of learning mechanisms adopted by firms and their own critical characteristics …