ABSTRACT

After the dissolution of the Neoclassical theory as the exclusive reference paradigm in economics, various approaches have come to the forefront in the research in the economic field. Cognitive economics stands out from them, being one of the most fertile. It is an interdisciplinary approach concerned with the following subjects: problem-solving, choice and change in the explanation of economic transactions, the nature and evolution of organizations and institutions in a context characterized by structural uncertainty, scarcity and incentives. The economic agents’ behaviour has psycho-neurobiological foundations and is analysed in the light of bounded information, bounded and procedural rationality and satisficing behaviour. Cognitive economics contributes to a large spectrum of economic fields, such as consumer theory, economics of the firm, economics of innovation, evolutionary economics, institutional economics and experimental economics. This book illustrates the most recent developments in this field.