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Knowledge, institutions, and evolution in economics /
In this volume, Brian J. Loasby explores how the limitations of human knowledge create opportunities as well as problems in the modern economy. Institutions emerge as a way of coping with the problems and helping to exploit the opportunities in an evolutionary process. However, this evolutionary pro...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
London ; New York :
Routledge,
1999.
|
| Colección: | Graz Schumpeter lectures ;
2. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | In this volume, Brian J. Loasby explores how the limitations of human knowledge create opportunities as well as problems in the modern economy. Institutions emerge as a way of coping with the problems and helping to exploit the opportunities in an evolutionary process. However, this evolutionary process does not necessarily produce optimal results, making many of the optimisation techniques of modern economics less than useful. The volume also explores how the biological foundation of human cognition helps us to understand both the role of institutions and the nature of capabilities or performance skills, both individual and organisational. Transaction and governance costs alone are not an adequate basis for understanding economic organisation: this is to be explained by capabilities as well as transactions. |
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| Descripción Física: | 1 online resource (xv, 168 pages) |
| Bibliografía: | Includes bibliographical references (pages 150-159) and indexes. |
| ISBN: | 9780203459096 0203459091 9780415205375 0415205379 0203255712 9780203255711 9780415298100 0415298105 1134627246 9781134627240 1280317477 9781280317477 9786610317479 661031747X |