000 01899 a2200313 4500
001 1138906115
005 20250317100358.0
008 250312042015GB 8 eng
020 _a9781138906112
037 _bTaylor & Francis
_cGBP 55.99
_fBB
040 _a01
041 _aeng
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100 1 _aAnna Grandori
245 1 0 _aEpistemic Economics and Organization
_bForms of Rationality and Governance for a Wiser Economy
250 _a1
260 _aOxford
_bRoutledge
_c20150304
300 _a156 p
520 _bThis 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.
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