Overview

This book presents institutional evolution and individual choice as codependent results of behavioral patterns. Drawing on F.A. Hayek's concepts of cognition and cultural evolution, Teraji demonstrates how the relationship between the sensory and social orders can allow economists to track social norms and their effects on the global economy. He redirects attention from the conventional focus on what an individual chooses to the changing social order that determines how an individual chooses. Cultural shifts provide the environmental feedback that challenges the mental models governing individual choice, creating a cycle of coevolution. Teraji develops a general framework from which to examine this symbiotic relationship in order to identify predictive patterns. Not just for behavioral economists, this book will also appeal to those who specialize in institutional economics, the philosophy of economics, and economic sociology.

Full Product Details

Author:   Shinji Teraji
Publisher:   Palgrave Macmillan
Imprint:   Palgrave Macmillan
Edition:   1st ed. 2016
Dimensions:   Width: 14.80cm , Height: 2.50cm , Length: 21.00cm
Weight:   5.812kg
ISBN:  

9781137502469

ISBN 10:   1137502460
Pages:   355
Publication Date:   08 June 2016
Audience:   College/higher education ,  Professional and scholarly ,  Tertiary & Higher Education ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   In Print  
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Table of Contents

1 Foundations.- 2 Why Do People Obey Norms?.- 3 The Sensory Order Revisited.- 4 Norms, Coordination, and Order.- 5 Culture and Cultural Evolution.- 6 Co-evolution of Mind and Society.- 7 Epilogue.

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Author Information

Shinji Teraji is Professor of Economics at Yamaguchi University, Japan. His research is mainly concerned with behavioral economics, institutional economics, and economic methodology.

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