This note is mainly based on a short interview with Thomas C. Schelling (TCS), who shared the Nobel Prize with Robert J. Aumann in 2005. The interview took place on 06.03.2001 at University of Maryland, College Park, USA. It consists of two parts. The first part is about his interpretation of...

Menger's explanation of the 'Origin of Money' is one of the paradigmatic examples of invisible hand explanations. This paper examines Menger's explanation in detail and comments on the characteristics of invisible hand explanations.

This paper analyses and explicates the explanatory characteristics of Schelling's checkerboard model of segregation. It argues that the explanation of emergence of segregation which is based on the checkerboard model is a partial potential (theoretical) explanation. Yet it is also argued that...

This note is mainly based on a short interview with Thomas C. Schelling (TCS), who shared the Nobel Prize with Robert J. Aumann in 2005. The interview took place on 06.03.2001 at University of Maryland, College Park, USA. It consists of two parts. The first part is about his interpretation of...

This paper examines game theoretic models of coordination conventions. Firstly, the paper shows that static models of coordination cannot explain the emergence of coordination conventions. The best interpretation of these models is that they study the conditions under which coordination is...

A review essay on Avner Greif, Institutions and the Path to the Modern Economy: Lessons from Medieval Trade, Cambridge, Cambridge University Press, 2006, xx+503.

Rothschild (2001) argues that the invisible hand refers to blind individuals and presume privileged knowledge on the part of the social scientist. For this reason, she takes it that the invisible hand is, in fact, an un− Smithian concept and that Smith was making an ironical joke. In this...

This note is mainly based on a short interview with Thomas C. Schelling (TCS), who shared the Nobel Prize with Robert J. Aumann in 2005. The interview took place on 06.03.2001 at University of Maryland, College Park, USA. It consists of two parts. The first part is about his interpretation of...

chapter 1 Introduction -- chapter 2 Unintended consequences -- chapter 3 The origin of money -- chapter 4 Segregation -- chapter 5 The invisible hand -- chapter 6 The origin of money reconsidered -- chapter 7 Models and representation -- chapter 8 Game theory and conventions -- chapter 9...