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The Economic Theory of Social Institutions, by Andrew Schotter
Fee Download The Economic Theory of Social Institutions, by Andrew Schotter
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This 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.
- Sales Rank: #5357696 in Books
- Brand: Brand: Cambridge University Press
- Published on: 1981-03-31
- Original language: English
- Number of items: 1
- Dimensions: 8.98" h x .71" w x 5.98" l, .9 pounds
- Binding: Hardcover
- 192 pages
- Used Book in Good Condition
About the Author
Andrew Schotter is Professor of Economics, Faculty of Arts and Sciences, at New York University and Director of the Center for Experimental Social Science. Professor Schotter received his BS degree from Cornell University and his MA and PhD degrees from New York University. His areas of special interest in teaching are microeconomic theory, game theory, and experimental economics. His areas of special interest in research are applications of game theory to economics, microeconomics, experimental economics, and theories of economic and social institutions. These interests are reflected in the many articles that Professor Schotter has contributed to economics journals and in the books he has written and edited. In addition to MICROECONOMICS: A MODERN APPROACH, he is the author of FREE MARKET ECONOMICS: A CRITICAL APPRAISAL and THE ECONOMIC THEORY OF SOCIAL INSTITUTIONS. Professor Schotter's wide-ranging professional activities also include serving as a member of the editorial board of the AMERICAN ECONOMIC REVIEW AND EXPERIMENTAL ECONOMICS and as an associate editor for GAMES AND ECONOMIC BEHAVIOR; doing consulting work for businesses and financial institutions; giving testimony before the Joint Economic Committee of the U.S. Congress on the cost of the tort system; and serving as a visiting scholar at the University of Paris, the University of Venice, the Institution for Advanced Studies in Vienna, and the Russell Sage Foundation and Tel Aviv University. In 1993 he received the Kenan Enterprise Award for his contributions to the economic theory of free markets. Professor Schotter is married to Anne Howland Schotter, a professor of English Literature at Wagner College in New York. They have two children, Geoffrey and Elizabeth, who have lent their names to the two archetypes of economic agents in the model society their father created to illustrate microeconomic theory in this book.
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