Learning , institutions , and economic performance

  title={Learning , institutions , and economic performance},
  author={C. Mantzavinos and Douglass C. North and Syed Shariq},
In this article, we provide a broad overview of the interplay among cognition, belief systems, and institutions, and how they affect economic performance. We argue that a deeper understanding of institutions’ emergence, their working properties, and their effect on economic and political outcomes should begin from an analysis of cognitive processes. We explore the nature of individual and collective learning, stressing that the issue is not whether agents are perfectly or boundedly rational… CONTINUE READING
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