C. Mantzavinos

After providing a brief overview of the economic theory of judicial decisions this paper presents an argument for why not only the economic theory of judicial decisions, but also the rational approach in general, most often fails in explaining decision-making. Work done within the research program of New Institutionalism is presented as a possible alternative. Within this research program judicial activity is conceptualized as the activity of "interpreting the rules of the game", i.e. the institutions that frame the economic and political interaction in a society. Such a conceptualization of judicial interpretation and judicial decision-making would have to depart from rational choice modes of reasoning, and should instead focus on how human beings actually reason, learn and choose drawing from research in cognitive science.

Dieser Aufsatz untersucht das Verhältnis zwischen Föderalismus und individueller Freiheit. Es wird gezeigt, dass eine vollständige Analyse des Verhältnisses zwischen Föderalismus und individueller Freiheit zwei entgegengesetzte Effekte mitberücksichtigen muss. Auf der einen Seite verstärken föderalistische Strukturen die individuelle Freiheit indem sie die Auswahlmöglichkeiten der Bürger erweitern. Auf der anderen Seite führt jedoch ein föderalistisches System zur institutionellen Vielfalt, ein Faktum, das per se zu höheren Abwanderungskosten führt, die ein Bürger tragen muss, wenn er oder sie entscheidet, die Jurisdiktion zu wechseln. Dieser Effekt auf die individuelle Freiheit ist ein negativer, da jede Erhöhung der Abwanderungskosten die Minderung der individuellen Freiheit zur Konsequenz hat. Der optimale Grad der Vielfalt der Jurisdiktionen befindet sich dort, wo die beiden Effekte sich gegenseitig ausgleichen.

This article provides a broad overview of the interplay among cognition, belief systems and institutions, fleshing out a position best characterized as 'cognitive institutionalism'. We argue that a deeper understanding of institutions, emergence, their working properties and their effect on economic performance should start with the analysis of cognitive processes. Exploring the nature of individual and collective learning the article suggests that the issue is not whether agents are perfectly or boundedly rational, but rather how human beings actually reason and choose. We also show how a full treatment of the phenomenon of path dependence should look like; there is a path dependence at the cognitive level, at the institutional level and at the economic level and there are links among them.

There is a long tradition in philosophy and the social sciences that emphasizes the meaningfulness of human action. This tradition doubts or even negates the possibility of causal explanations of human action precisely on the basis that human actions have meaning. This article provides an argument in favor of methodological naturalism in the social sciences. It grants the main argument of the Interpretivists, that is, that human actions are meaningful, but it shows how a transformation of a "nexus of meaning" into a "causal nexus" can take place, proposing the "successful transformation argument."