The Economic Theory of Social Institutions
By (author) Andrew Schotter
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Economic Theory of Social Institutions by Andrew Schotter
Book DescriptionThis book uses game theory to analyse the creation, evolution and function of economic and social institutions. The author illustrates his analysis by describing the organic or unplanned evolution of institutions such as the conventions of war, the use of money, property rights and oligopolistic pricing conventions. Professor Schotter begins by linking his work with the ideas of the philosophers Rawls, Nozick and Lewis. Institutions are regarded as regularities in the behaviour of social agents, which the agents themselves tacitly create to solve a wide variety of recurrent problems. The repetitive nature of the problems permits them to be described as a recurrent game or 'supergame.' The agents use these regularities as informational devices to supplement the information contained in competitive prices. The final chapter explores the applicability of this theory, first by relating it to previous work on the theory of teams, hierarchies, and non-maximizing decision theory, and then by using it to provide a new approach to a variety of questions both within and outside economics.
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Book DetailsISBN: 9780521067133
(228mm x 152mm x 11mm)
Imprint: Cambridge University Press
Publisher: Cambridge University Press
Publish Date: 26-Jun-2008
Country of Publication: United Kingdom
Books By Author Andrew Schotter
Handbook of Experimental Economic Methodology, Hardback (February 2015)
The Handbook of Experimental Economic Methodology, edited by Guillaume R. Frechette and Andrew Schotter, aims to confront and debate the issues faced by the growing field of experimental economics.
Foundations of Positive and Normative Economics, Paperback (November 2010)» View all books by Andrew Schotter
The Foundations of Positive and Normative Economics: A Handbook is the first book in a new series by Andrew Caplin and Andrew Schotter.
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