Model uncertainty and the rationality of economic policy: An evolutionary approach

Journal of Evolutionary Economics

Volumn 15, Issue 1, 2005, Pages 101-116

  Schnellenbach, Jan ^a  

^a PHILIPPS UNIVERSITY MARBURG   (Germany)

Author keywords

Collective beliefs; Collective learning; Economic policy; Model uncertainty

Indexed keywords

EID: 13244292407     PISSN: 09369937     EISSN: None     Source Type: Journal    
DOI: 10.1007/s00191-004-0231-y     Document Type: Conference Paper

References (28)

1. Austen-Smith D (1997) Interest groups: money, information and influence. In: Mueller DC (ed) Perspectives on public choice: a handbook. Cambridge University Press, Cambridge
2. Becker GS (1983) A theory of competition among pressure groups for political influence. Quarterly Journal of Economics 98: 371-400
3. Demsetz H (1969) Information and efficiency: another viewpoint. Journal of Law and Economics 12: 1-22
4. Denzau AT, North DC (1994) Shared mental models: ideologies and institutions. Kyklos 47: 3-31
5. Dopfer K (1991) Toward a theory of economic institutions: synergy and path-dependency. Journal of Economic Issues 25: 535-550
6. Downs A (1957) An economic theory of democracy. Harper and Row, New York
7. Elster J (1983) Sour graphes. Studies in the subversion of rationality. Cambridge University Press, Cambridge
8. Feld LP, Kirchgässner G (2000) Direct democracy, political culture, and the outcome of economic policy: a report on the Swiss experience. European Journal of Political Economy 16: 287-306
9. Glaeser EL, Laibson D, Sacerdote B (2002) The economic approach to social capital. Economic Journal 112: 437-459
10. Hayek FA (1952) The sensory order. An inquiry into the foundations of theoretical psychology. University of Chicago Press, Chicago
11. Hayek FA (1974) The pretence of knowledge. Reprinted in: Hayek FA (1978) New studies in philosophy, politics and economics. University of Chicago Press, Chicago
12. Hirschman AO (1989) Having opinions: one of the elements of well-being? American Economic Review (Papers and Proceedings) 79: 75-79
13. Holland J et al. (1986) Induction: processes of inference, learning and discovery. MIT Press, Cambridge, MA
14. Knight J (1992) Institutions and social conflict. Cambridge University Press, Cambridge
15. Kuran T (1991) Cognitive limitations and preference evolution. Journal of Institutional and Theoretical Economics 147: 241-273
16. Lachmann LM (1971) The legacy of Max Weber. Glendessary Press, Berkeley
17. Lachmann LM (1977) Capital, expectations, and the market process: essays on the theory of the market economy. Institute for Humane Studies, Menlo Park
18. Meier A, Mettler D ( 1985) Auf der Suche nach einem neuen Paradigma der Wirtschaftspolitik. Kyklos 38: 171-199
19. Meier A, Haury S (1990) A cognitive-evolutionary theory of economic policy. In: Dopfer K, Raible K-F (eds) The evolution of economic systems. Essays in honour of Ota Sik. Macmillan, London
20. North DC (1990) Institutions, institutional change and economic performance. Cambridge University Press, Cambridge
21. Persson T, Tabellini G (2000) Political economics. Explaining economic policy. MIT Press, Cambridge, MA
22. Popper KR (1967) La rationalité et le statut du principe de rationalité. In: Claassen E-M (ed) Les fondements philosophiques des systemes économiques. Payot, Paris
23. Schnellenbach J (2002) New political economy, scientism and knowledge. American Journal of Economics and Sociology 61: 193-214
24. Simon HA (1957) Models of man. Wiley, New York
25. Slembeck T (1997) The formation of economic policy: a cognitive-evolutionary approach to policy-making. Constitutional Political Economy 8: 225-254
26. Tetlow RJ, von zur Muehlen P (2001) Robust monetary policy in misspecified models: does model uncertainty always call for attenuated policy? Journal of Economic Dynamics and Control 25: 911-949
27. Witt U (1995) Schumpeter vs. Hayek: two approaches to evolutionary economics. In: Meijer G (ed) New perspectives on Austrian economics. Routledge, London
28. Witt U (2003) Economic policy making in evolutionary perspective. Journal of Evolutionary Economics 13: 77-94