Identifying Effective Factors Influencing the Beliefs of the Elite Agents in the Formation of Official Institutions of Iranian Economy Using a Cognitive Economy Approach

Abstract

Formation of institutions depends on leaders and elite’s beliefs. Some factors influence the beliefs of people. The aim of this study is to identify beliefs affecting the formation of efficient institutions. In this research, the knowledge has been generated by the method of inductive qualitative content analysis, based on the lives of the six persons who have been introduced the experts as influential people in the formation of successful economic institutions. Based on the content analysis of the interviews, the self-efficacy beliefs have positive effects on the formation of efficient institutions, and skills and experiences affect the beliefs. Of two factors influencing self-efficacy belief, the experience of domination (impact of life circumference, and experiences of childhood and teenage) is of high scores in the first three persons than three next ones; however the substitution experience (impact of parents) is similar among sample under study. All six experts had good socioeconomic positions.

Keywords

• institutional economics
• cognitive economics
• self-efficacy belief