| Description |
1 online resource (xi, 467 pages) : illustrations |
| Series |
Comparative institutional analysis ; 2 |
|
Comparative institutional analysis ; 2.
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| Contents |
1. What Are Institutions? How Should We Approach Them? -- 1.1. Three Views of Institutions in a Game-Theoretic Perspective. -- 1.2. Aspects of Institutions: Shared Beliefs, Summary Representations of Equilibrium, and Endogenous Rules of the Game. -- 1.3. Organization of the Book -- 2. Customary Property Rights and Community Norms. -- 2.1. Customary Property Rights as a Self-organizing System. -- 2.2. Community Norms as a Self-enforcing Solution to the Commons Problem. -- App. History versus Ecology as a Determinant of a Norm: The Case of Yi Korea -- 3. Private-Ordered Governance of Trade, Contracts, and Markets. -- 3.1. Traders' Norms. -- 3.2. Cultural Beliefs and Self-enforcing Employment Contracts. -- 3.3. Private Third-Party Governance: The Law Merchant |
| Summary |
A conceptual and analytical framework for understanding economic institutions and institutional change. Markets are one of the most salient institutions produced by humans, and economists have traditionally analyzed the workings of the market mechanism. Recently, however, economists and others have begun to appreciate the many institution-related events and phenomena that have a significant impact on economic performance. Examples include the demise of the communist states, the emergence of Silicon Valley and e-commerce, the European currency unification, and the East Asian financial crises. In this book Masahiko Aoki uses modern game theory to develop a conceptual and analytical framework for understanding issues related to economic institutions. The wide-ranging discussion considers how institutions evolve, why their overall arrangements are robust and diverse across economies, and why they do or do not change in response to environmental factors such as technological progress, global market integration, and demographic change |
| Analysis |
ECONOMICS/Game Theory |
|
ECONOMICS/Political Economy |
| Bibliography |
Includes bibliographical references (pages 433-456) and index |
| Notes |
English |
|
Print version record |
| Subject |
Institutional economics.
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Game theory.
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Game Theory
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BUSINESS & ECONOMICS -- Real Estate -- General.
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Game theory.
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Institutional economics.
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Game theory
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Institutional economics
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Instituties.
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Economie.
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Speltheorie.
|
| Form |
Electronic book
|
| ISBN |
9780262267212 |
|
0262267217 |
|
0585475482 |
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9780585475486 |
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