Habits and Cognition: Exploring the Process of Institutional Reform

Konstantinos Loizos ()
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Konstantinos Loizos: Centre of Planning and Economic Research (KEPE)

Chapter Chapter 5 in Between Markets and Governments, 2025, pp 101-134 from Springer

Abstract: Abstract This chapter reviews the ideas of Thorstein Veblen and Douglass North concerning institutional formation and change. The emphasis is placed on the notions of habit formation, learning, and culture on the one hand and cognitive processes and revision of beliefs on the other hand. The problematic of individual perception as opposed to collective action for change will also be explored in an attempt to sketch a theoretical context for understanding development banks’ role in institutional development.

Keywords: Institutional matrix; Mental models; Ideology; Instincts; Habits of thought; Ceremonial values; Instrumental values (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-88527-3_5

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DOI: 10.1007/978-3-031-88527-3_5

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