| Titre | A Critical Survey of J.K. Arrow's Theory ofKnowledge | |
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| Auteur | Mehrdad Vahabi | |
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Revue | Cahiers d'économie politique |
| Numéro | no 29, automne 1997 | |
| Page | 35-65 | |
| Résumé anglais |
The great challenge for neoclassical paradigms is whether its methodological individualism is capable of coming to grips with the collective or social nature of information. Arrow's subtle observation regarding the increasing returns to communication is one of those peculiarities which contradicts the concept of scarcity of information. Bounded rationality is another example. While remaining faithful to methodological individualism of standard economic theory, Arrow describes information as a specific non-ordinary commodity, revealing the limits of imperfections of market and entering into the general category of externalities. He sets forth some fundamental principles of the economics of information and the new microeconomics by focusing on issues such as information gathering, communication efficiency, and transmission costs in deciding among forms of economic organization. In our critical review of Arrow's theory of information, we endeavor to show that despite its great achievements, this theory does not capture the tacit, institutionalized, unexpected, and non-rational dimensions of knowledge. The organizational or corporate culture cannot be derived from market failure. It is the direct outcome of internal organization of the firm and other social networks, and thus closely related to learned and transmitted knowledge in a group context. Source : Éditeur (via Persée) |
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| Article en ligne | http://www.persee.fr/web/revues/home/prescript/article/cep_0154-8344_1997_num_29_1_1208 |
