Institutional dynamics and learning networks

Philip Poon, Jessica C Flack and David C Krakauer

PLOS ONE, 2022, vol. 17, issue 5, 1-19

Abstract: Institutions have been described as ‘the humanly devised constraints that structure political, economic, and social interactions.’ This broad definition of institutions spans social norms, laws, companies, and even scientific theories. We describe a non-equilibrium, multi-scale learning framework supporting institutional quasi-stationarity, periodicity, and switching. Individuals collectively construct ledgers constituting institutions. Agents read only a part of the ledger–positive and negative opinions of an institution—its “public position” whose value biases one agent’s preferences over those of rivals. These positions encode collective perception and action relating to laws, the power of parties in political office, and advocacy for scientific theories. We consider a diversity of complex temporal phenomena in the history of social and research culture (e.g. scientific revolutions) and provide a new explanation for ubiquitous cultural resistance to change and novelty–a systemic endowment effect through hysteresis.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:plo:pone00:0267688

DOI: 10.1371/journal.pone.0267688

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