Epistemic economics and organization : forms of rationality and governance for a discovery oriented economy

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Title:

Author:

Grandori, Anna.

ISBN:

9780415575652

9780203786772

Personal Author:

Grandori, Anna.

Publication Information:

New York : Routledge, 2013.

Physical Description:

x, 156 p. ; 24 cm.

Series:

Routledge studies in global competition

Abstract:

Although the modern economy and society is knowledge intensive, Anna Grandori argues that the dominant economic, organizational and behavioural models neglect to a large extent the problem of valid knowledge construction and effective knowledge governance. This book revisits the reasons for this state of affairs and the author focuses on three aspects: at the micro-level of assumptions about economic rationality, at the level of coordination and contracting among actors, and at the level of governance and organization structures. The book integrates inputs from behavioural science with insights and models from the philosophy of knowledge and of economic philosophy to define new micro-foundations: neither a calculative, deductive and omniscient rational actor; nor an experiential, adaptive and biased behavioural actor; but a knowledgeable and imaginative epistemic actor.

Subject Term:

Knowledge management -- Economic aspects.

Epistemics.

Organizational learning -- Economic aspects.

Copies:

Available:*

Library	Material Type	Item Barcode	Shelf Number	Copy	Status
Searching... 1:IIEMSA	1:GEN-BOOK	33168025594363	302.35 G754E 2013	1	Searching... Unknown

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Summary

This book proposes a new approach to economics, management and organization that should help in making economic organization 'wise', 'innovative' and 'robust' in an uncertain and risky world. Although the modern economy and society is 'knowledge intensive', Anna Grandori argues that the dominant economic, organizational and behavioural models neglect to a large extent the problem of valid knowledge construction and effective knowledge governance.

The book integrates inputs from economics and behavioural science with insights from the philosophy of knowledge to define new micro-foundations: neither a calculative, deductive and omniscient 'rational actor'; nor an experiential, adaptive and biased 'behavioural actor'; but a knowledgeable and imaginative 'epistemic actor'.

The implications for contracts and organizations, sustained also by insights from law, are shown to be far reaching, including a new view of the nature of the firm as an entity-establishing agreement under which to discover uses of resources under uncertainty, and as a democratic institution.