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Individual Strategy and Social Structure: An Evolutionary Theory of Institutions
H. Peyton Young
€ 77.23
€ 60.10
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Description for Individual Strategy and Social Structure: An Evolutionary Theory of Institutions
Paperback. Neoclassical economics assumes that people are highly rational and can reason their way through even the most complex economic problems. This book shows how the cumulative experiences of many individuals coalesce over time into customs, norms, and institutions that govern economic and social life. Num Pages: 208 pages, 43 line illus., 1 table. BIC Classification: KCA; KJC. Category: (P) Professional & Vocational; (U) Tertiary Education (US: College). Dimension: 159 x 235 x 16. Weight in Grams: 322.
Neoclassical economics as-sumes that people are highly rational and can reason their way through even the most complex economic problems. In Individual Strategy and Social Structure, Peyton Young argues for a more realistic view in which people have a limited understanding of their environment, are sometimes short-sighted, and occasionally act in perverse ways. He shows how the cumulative experiences of many such individuals coalesce over time into customs, norms, and institutions that govern economic and social life. He develops a theory that predicts how such institutions evolve and characterizes their welfare properties. The ideas are illustrated through a variety of ... Read more
Neoclassical economics as-sumes that people are highly rational and can reason their way through even the most complex economic problems. In Individual Strategy and Social Structure, Peyton Young argues for a more realistic view in which people have a limited understanding of their environment, are sometimes short-sighted, and occasionally act in perverse ways. He shows how the cumulative experiences of many such individuals coalesce over time into customs, norms, and institutions that govern economic and social life. He develops a theory that predicts how such institutions evolve and characterizes their welfare properties. The ideas are illustrated through a variety of ... Read more
Product Details
Format
Paperback
Publication date
2001
Publisher
Princeton University Press United States
Number of pages
208
Condition
New
Number of Pages
208
Place of Publication
New Jersey, United States
ISBN
9780691086873
SKU
V9780691086873
Shipping Time
Usually ships in 7 to 11 working days
Ref
99-1
About H. Peyton Young
H. Peyton Young is Scott and Barbara Black Professor of Economics at The Johns Hopkins University and a Visiting Fellow at the Brookings Institution. He is the author of Equity: In Theory and Practice (Princeton).
Reviews for Individual Strategy and Social Structure: An Evolutionary Theory of Institutions
"[Individual Strategy and Social Structure] should be a valuable resource for all interested in this extremely valuable and flexible technique. Self-contained and pleasant to read."
Journal of Economics
Journal of Economics