The Impact of Institutions on the Decision How to Decide

Christoph Engel and Elke U. Weber ()
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Elke U. Weber: Columbia University, Professor of Psychology and Management

No 2006_19, Discussion Paper Series of the Max Planck Institute for Research on Collective Goods from Max Planck Institute for Research on Collective Goods

Abstract: The human mind is not a general problem solving machine. Instead of deliberately, consciously and serially processing the available information, men can rely on routines, rules, roles or affect for the purpose. They can bring in technology, experts or groups. For all of these reasons, men have a plurality of problem solving modes at their disposition. Often, the meta-choice of problem solving mode matters for behavioural output. Some performance standards are only to be met if a certain problem solving mode is used, like a well-established skill. Other requirements are easier to fulfil with some problem solving modes. This explains why institutions frequently impact on the choice of problem solving mode. To show how institutions are able to do that, a model of problem solving modes is developed. It allows to systematise the access points for institutional intervention.

Keywords: Decision Making; Problem Solving; Institutions (search for similar items in EconPapers)
JEL-codes: D10 D21 D83 K20 K40 L51 Z13 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2006-08
New Economics Papers: this item is included in nep-cbe, nep-knm and nep-law
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Related works:
Journal Article: The impact of institutions on the decision how to decide (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:mpg:wpaper:2006_19

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