Communication and Economic Theory How to deal with rationality in a communicational environment

This book analyzes the different topics which highlight the relevance of communication within markets. In using and reformulating concepts of Arrow, Commons, Williamson, North, Becker and others, the author shows the hidden implications of these authors for a new approach in economics: communication...

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Bibliographic Details
Main Author: Priddat, Birger P.
Format: eBook
Language:English
Published: Cham Springer International Publishing 2014, 2014
Edition:1st ed. 2014
Series:Ethical Economy, Studies in Economic Ethics and Philosophy
Subjects:
Online Access:
Collection: Springer eBooks 2005- - Collection details see MPG.ReNa
Description
Summary:This book analyzes the different topics which highlight the relevance of communication within markets. In using and reformulating concepts of Arrow, Commons, Williamson, North, Becker and others, the author shows the hidden implications of these authors for a new approach in economics: communication matters. Markets are systems of allocation, which are governed by communication networks. In Economics, so far, communication processes play a minor role. During the last century, there was a tendency of using ‘communication’ as a tool for reintroducing the diversity of rational actions. Yet, communication is a governance-structure of its own, which cannot be used as a tool, since communication is disturbing the expectations of the economics actors and changing the actor’s preferences as well as their belief-systems. By using examples such as Kenneth Arrow’s economics actor theory, and Douglas North’s emphasis on communication being a process of building ‘shared mental models’, this book argues that if communication matters, we have to reinterpret the basics of economic methodology and integrate network-processing and discourse theories
Physical Description:VIII, 147 p. 1 illus online resource
ISBN:9783319069012