Almeida, Felipe - In: Journal of Economic Issues 45 (2011) 4, pp. 839-856
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 …