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This paper investigates two different approaches to the analysis of institutions using game theory and discusses their … methodological and theoretical implications for further research. Starting from von Neumann and Morgenstern's theory, we investigate … method to investigate institutions as the unplanned outcome of self- interested individual behavior? While the game theory …
Persistent link: https://www.econbiz.de/10009753456
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Decline and break-up of institutionalized cooperation, at all levels, has occurred frequently. Some of its concomitants, such as international migration, have become topical in the globalized world. Aspects of the phenomenon have also become known as failing states. However, the focus in most...
Persistent link: https://www.econbiz.de/10014497537
theory (EGT). This represents the first step towards incorporating Veblen's socio-economic evolution theory into discussion …
Persistent link: https://www.econbiz.de/10012776074
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We study information conditions under which individuals are willing to delegate their sanctioning power to a central authority. We design a public goods game in which players can move between institutional environments, and we vary the observability of others' contributions. We find that the...
Persistent link: https://www.econbiz.de/10011536714
This paper analyzes the relations between social capital, institutions and trust. These concepts are full of ambiguity and confusion. This paper attempts to dissolve some of the confusion, by distinguishing trust and control, and analyzing institutional and relational conditions of trust. It...
Persistent link: https://www.econbiz.de/10012733578
This paper investigates two different approaches to the analysis of institutions using game theory and discusses their … methodological and theoretical implications for further research. Starting from von Neumann and Morgenstern's theory, we investigate … method to investigate institutions as the unplanned outcome of self-interested individual behavior? While the game theory …
Persistent link: https://www.econbiz.de/10013080474
Economic theory suggests that the deterrence of deviant behavior is driven by a combination of severity and certainty …
Persistent link: https://www.econbiz.de/10012438420