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Individual Strategy and Social Structure - An Evolutionary Theory of Institutions

£13.99

Product description

Neoclassical economics assumes 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 characterises their welfare properties.

The ideas are illustrated through a variety of examples, including patterns of residential segregation, rules of the road, claims on property, forms of economic contracts, and norms of equity. The book relies on new results in evolutionary game theory and stochastic dynamical systems theory, many of them originated by the author.

It can serve as an introductory text, or be read on its own as a contribution to the study of economic and social institutions.

The book is in excellent condition throughout.

Item details

Added value:
First Edition, First Printing
Author(s):
Young, H Peyton
Condition:
As new
Dimensions:
9.25" by 6.25"
Edition:
First, 1998
Format:
Hardback
ISBN-10:
069102684X
ISBN-13:
9780691026848
Number of pages:
189
Publisher:
Princeton University Press
Title:
Individual Strategy and Social Structure - An Evolutionary Theory of Institutions

Standard UK Delivery (£3.95 per order)

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About this item

Neoclassical economics assumes 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 characterises their welfare properties.

The ideas are illustrated through a variety of examples, including patterns of residential segregation, rules of the road, claims on property, forms of economic contracts, and norms of equity. The book relies on new results in evolutionary game theory and stochastic dynamical systems theory, many of them originated by the author.

It can serve as an introductory text, or be read on its own as a contribution to the study of economic and social institutions.

The book is in excellent condition throughout.

Added value:
First Edition, First Printing
Author(s):
Young, H Peyton
Condition:
As new
Dimensions:
9.25" by 6.25"
Edition:
First, 1998
Format:
Hardback
ISBN-10:
069102684X
ISBN-13:
9780691026848
Number of pages:
189
Publisher:
Princeton University Press
Title:
Individual Strategy and Social Structure - An Evolutionary Theory of Institutions

Delivery & returns

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This item will be dispatched to UK addresses via second class post within 2 working days of receipt of your order. Standard UK delivery is currently free, no matter how many items you have in your basket. Any additional courier charges will be applied at checkout as they vary depending on delivery address.

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