Palgrave Advances in Behavioral Economics

Evolving Norms

Cognitive Perspectives in Economics

Authors: Teraji, Shinji

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  • Argues that cultural norms and institutions coevolve
  • Shifts from conventional focus on what people choose to how they choose
  • Presents a framework for predicting behavioral and institutional patterns
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  • ISBN 978-1-137-50247-6
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About this book

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.

About the authors

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

Reviews

“Building on the pioneering work by Friedrich Hayek and Herbert Simon, Shinji Teraji builds a unique analytical framework to better understand how social norms evolve and possibly converge over time. This has implications for improving one’s understanding of how stable social orders evolve and can be maintained. Key to Teraji’s contribution is modeling the dialectic and dynamic interaction between individuals and their perspectives of reality and the institutional parameters that affect choice behavior.” (Morris Altman, Dean and Head, Newcastle Business School; Professor of Behavioural and Institutional Economics, University of Newcastle, Australia)

Table of contents (6 chapters)

Table of contents (6 chapters)

Buy this book

eBook $119.00
price for Mexico
  • ISBN 978-1-137-50247-6
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $159.99
price for Mexico
  • ISBN 978-1-137-50246-9
  • Free shipping for individuals worldwide
  • Institutional customers should get in touch with their account manager
  • Shipping restrictions
  • Usually ready to be dispatched within 3 to 5 business days, if in stock

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Bibliographic Information

Bibliographic Information
Book Title
Evolving Norms
Book Subtitle
Cognitive Perspectives in Economics
Authors
Series Title
Palgrave Advances in Behavioral Economics
Copyright
2016
Publisher
Palgrave Macmillan US
Copyright Holder
The Editor(s) (if applicable) and The Author(s)
eBook ISBN
978-1-137-50247-6
DOI
10.1057/978-1-137-50247-6
Hardcover ISBN
978-1-137-50246-9
Series ISSN
2662-3846
Edition Number
1
Number of Pages
XV, 355
Number of Illustrations
7 b/w illustrations
Topics