Knowledge, institutions, and evolution in economics / Brian J. Loasby.

By:

Loasby, Brian J

Material type: Text

TextSeries: Graz Schumpeter lectures ; 2.Publication details: London ; New York : Routledge, 1999.Description: 1 online resource (xv, 168 pages)Content type:

text

Media type:

computer

Carrier type:

online resource

ISBN:

9780203459096
0203459091
9780415205375
0415205379
0203255712
9780203255711
9780415298100
0415298105
1134627246
9781134627240
1280317477
9781280317477
9786610317479
661031747X

Subject(s): Genre/Form:

Additional physical formats: Print version:: Knowledge, institutions, and evolution in economics.DDC classification:

330/.01 21

LOC classification:

HB133 .L6 1999eb

Other classification:

83.15

Online resources:

Click here to access online

Contents:

Chapter 1 The problem of knowledge -- chapter 2 Selection and evolution -- chapter 3 Cognition and institutions -- chapter 4 Capabilities -- chapter 5 Transactions and governance -- chapter 6 Economic organisation -- chapter 7 Understanding markets -- chapter 8 The division of labour and the growth of knowledge.

Summary: 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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Electronic-Books	OPJGU Sonepat- Campus	E-Books EBSCO			Available

Includes bibliographical references (pages 150-159) and indexes.

Print version record.

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.

English.

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