Cognitive Coordination and Economic Organization: Analogy and the Emergence of Focal Points

Nicolai Juul Foss; Mark Lorenzen

Cognitive Coordination and Economic Organization: Analogy and the Emergence of Focal Points

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Abstract

The theme of this paper is the cognitive dimension of institutions (Scott 1995). By this we refer to how institutions provide the schemas, scripts, points of orientation, signposts, etc. that allow agents to coordinate their actions by first coordinating their beliefs, (expectations, plans, strategies, etc.) (Hayek 1937, Lachmann 1971; Foss 1996) what we call ”cognitive coordination.” The main aim is to take steps towards an understanding of how cognitive oordination may enter into the theory of economic organization.

Original language	English
Place of Publication	København
Publisher	Institut for Industriøkonomi og Virksomhedsstrategi, Handelshøjskolen i København
Number of pages	28
ISBN (Print)	8778690676
Publication status	Published - 2001

Series	Working Paper / Department of Industrial Economics and Strategy. Copenhagen Business School
Number	2001-2
ISSN	1398-7461

Series	LINK Working Paper
Number	2001-04

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Foss, Nicolai Juul ; Lorenzen, Mark. / Cognitive Coordination and Economic Organization : Analogy and the Emergence of Focal Points. København : Institut for Industriøkonomi og Virksomhedsstrategi, Handelshøjskolen i København, 2001. (Working Paper / Department of Industrial Economics and Strategy. Copenhagen Business School; No. 2001-2). (LINK Working Paper; No. 2001-04).

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