Bounded rationality and mental models: cognitive aspects of economic agents in the Institutional economics

Authors

  • Ednilson Silva Felipe UFRJ

    DOI:

    https://doi.org/10.5380/re.v34i3.8459

    Keywords:

    bounded rationality, transaction cost, mental models, racionalidade limitada, custos de transação, modelos mentais

    Abstract

    The article explains that the behavioral and cognitive characteristicsassumed about the economic agents – in general by New Institutional Economyand particularly by the Transaction Cost Economics - bounded rationality andopportunism – even so they mean a considerable advance in terms of approach when compared with the parameters assumed by the traditional neoclassicaltheory, still as a program that uses the comparative static analysis – and notdynamic of the processes and evolution for the construction of its main results.In this direction, the text argues that the use of procedural rationality and mentalmodels could add to the economic agent some characteristics – such as creativityand learning – basic to become the explanations more dynamic and consistentwith the complex reality.

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    How to Cite

    Felipe, E. S. (2008). Bounded rationality and mental models: cognitive aspects of economic agents in the Institutional economics. Revista De Economia, 34(3). https://doi.org/10.5380/re.v34i3.8459

    Issue

    Vol. 34 No. 3 (2008)

    Section

    Artigos

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