Institutions as cognitive media between strategic interactions and individual beliefs

Masahiko Aoki

Journal of Economic Behavior & Organization, 2011, vol. 79, issue 1, 20-34

Abstract: This paper begins with contested issues among various approaches to institutions and seeks an analytical/conceptual framework for integrating them. Based on fundamental studies of knowledge theory and epistemic game theory, it discusses the role of institutions in substantive forms as societal artifacts that cognitively mediate agents’ strategic interactions and their individual beliefs in societal games. This approach is termed as the institutions-as-cognitive-media-view and its implications to the role of culture, institutional complementarities, and policy in the institutional process are discussed. It concludes with a proposal for a three-level approach to institutions: generic-ontological, comparative-substantive, and policy-design levels.

Keywords: Institutions; Institutional complementarities; Cognitive media; Culture; Epistemic game; Common knowledge (search for similar items in EconPapers)
JEL-codes: A1 B4 D8 P00 (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (36)

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Related works:
Chapter: Institutions as cognitive media between strategic interactions and individual beliefs (2013)
Journal Article: Institutions as cognitive media between strategic interactions and individual beliefs (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jeborg:v:79:y:2011:i:1:p:20-34

DOI: 10.1016/j.jebo.2011.01.025

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