The crucial importance of institutional analysis in economics and the social sciences in general is well understood. Yet, institutional economists have only a limited understanding of individual behavior in institutional settings, the emergence and spread of innovative behavior, and how...

The Economics of the Mind addresses economics from the perspective of real men and women: how they assess things, decide and act. It looks at the choices we make, and calls for the assumptions which make up the foundations of economic theory to be consistent with the mechanisms which guide the...