Cognition,imagination and institutions in demand creation |
| |
Authors: | Brian J Loasby |
| |
Institution: | (1) Department of Economics, University of Stirling, Stirling FK9 4LA, UK (e-mail: b.j.loasby@stir.ac.uk) , GB |
| |
Abstract: | Formal rationality plays a limited role in human cognition, which originated in the creation of patterns to interpret phenomena
and link phenomena with action. The creation of new patterns rests on imagination, not logic, typically stimulated by a perceived
inadequacy in established patterns. Internal routines of the brain and external institutions form structures of cognitive
capital; the institutions of markets, including money prices, aid the development of consumption capital, which simplifies
most choices and provides scope for selective experiment and innovation in creating goods. Such innovation depends on differences
between individuals and changes in their circumstances. |
| |
Keywords: | : Cognitive processes – Institutions – Consumption capital – Innovation |
本文献已被 SpringerLink 等数据库收录! |
|