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The complex evolution of a simple traffic convention: the functions and implications of habit

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  • Hodgson, Geoffrey M.
  • Knudsen, Thorbjorn

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Article provided by Elsevier in its journal Journal of Economic Behavior & Organization.

Volume (Year): 54 (2004)
Issue (Month): 1 (May)
Pages: 19-47

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Handle: RePEc:eee:jeborg:v:54:y:2004:i:1:p:19-47

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References

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  1. Becker, G.S., 1991. "Habits, Addictions, and Traditions," University of Chicago - Economics Research Center, Chicago - Economics Research Center 91-8, Chicago - Economics Research Center.
  2. Kiyotaki, Nobuhiro & Wright, Randall, 1989. "On Money as a Medium of Exchange," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 97(4), pages 927-54, August.
  3. Lane, David A, 1993. "Artificial Worlds and Economics, Part II," Journal of Evolutionary Economics, Springer, Springer, vol. 3(3), pages 177-97, August.
  4. Gary S. Becker & Kevin M. Murphy, 1986. "A Theory of Rational Addiction," University of Chicago - George G. Stigler Center for Study of Economy and State, Chicago - Center for Study of Economy and State 41, Chicago - Center for Study of Economy and State.
  5. Lane, David A, 1993. "Artificial Worlds and Economics, Part I," Journal of Evolutionary Economics, Springer, Springer, vol. 3(2), pages 89-107, May.
  6. Warneryd, Karl, 1990. "Legal restrictions and monetary evolution," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 13(1), pages 117-124, January.
  7. Field, Alexander James, 1984. "Microeconomics, Norms, and Rationality," Economic Development and Cultural Change, University of Chicago Press, vol. 32(4), pages 683-711, July.
  8. Marimon, Ramon & McGrattan, Ellen & Sargent, Thomas J., 1990. "Money as a medium of exchange in an economy with artificially intelligent agents," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 14(2), pages 329-373, May.
  9. Geoffrey M. Hodgson, 2003. "The hidden persuaders: institutions and individuals in economic theory," Cambridge Journal of Economics, Oxford University Press, Oxford University Press, vol. 27(2), pages 159-175, March.
  10. Schlicht, Ekkehart, 1998. "On Custom in the Economy," OUP Catalogue, Oxford University Press, Oxford University Press, number 9780198292241, October.
  11. H. Peyton Young, 1996. "The Economics of Convention," Journal of Economic Perspectives, American Economic Association, vol. 10(2), pages 105-122, Spring.
  12. Blanciforti, Laura & Green, Richard, 1983. "An Almost Ideal Demand System Incorporating Habits: An Analysis of Expenditures on Food and Aggregate Commodity Groups," The Review of Economics and Statistics, MIT Press, vol. 65(3), pages 511-15, August.
  13. Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, Econometric Society, vol. 61(1), pages 57-84, January.
  14. Pollak, Robert A, 1970. "Habit Formation and Dynamic Demand Functions," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 78(4), pages 745-63, Part I Ju.
  15. Oh, Seonghwan, 1989. "A theory of a generally acceptable medium of exchange and barter," Journal of Monetary Economics, Elsevier, Elsevier, vol. 23(1), pages 101-119, January.
  16. Jones, Robert A, 1976. "The Origin and Development of Media of Exchange," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 84(4), pages 757-75, August.
  17. Jack Ochs & John Duffy, 1999. "Emergence of Money as a Medium of Exchange: An Experimental Study," American Economic Review, American Economic Association, American Economic Association, vol. 89(4), pages 847-877, September.
  18. Philips, Louis & Spinnewyn, Frans, 1984. "True indexes and rational habit formation," European Economic Review, Elsevier, vol. 24(2), pages 209-223, March.
  19. Masahiko Aoki, 2001. "Toward a Comparative Institutional Analysis," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262011875, December.
  20. Erev, Ido & Roth, Alvin E, 1998. "Predicting How People Play Games: Reinforcement Learning in Experimental Games with Unique, Mixed Strategy Equilibria," American Economic Review, American Economic Association, American Economic Association, vol. 88(4), pages 848-81, September.
  21. Geoffrey M. Hodgson, 1998. "The Approach of Institutional Economics," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 166-192, March.
  22. Howitt, Peter & Clower, Robert, 2000. "The emergence of economic organization," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 41(1), pages 55-84, January.
  23. Roth, Alvin E. & Erev, Ido, 1995. "Learning in extensive-form games: Experimental data and simple dynamic models in the intermediate term," Games and Economic Behavior, Elsevier, vol. 8(1), pages 164-212.
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Citations

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Cited by:
  1. Waśniewski, Krzysztof, 2010. "Emergence of alternative capital markets in developing countries as a process of institutional change," MPRA Paper 26681, University Library of Munich, Germany.
  2. Krzysztof Waśniewski, 2012. "Institutional model of corporate strategies," Ekonomia journal, Faculty of Economic Sciences, University of Warsaw, Faculty of Economic Sciences, University of Warsaw, vol. 29.
  3. Brousseau, Eric & Garrouste, Pierre & Raynaud, Emmanuel, 2011. "Institutional changes: Alternative theories and consequences for institutional design," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 79(1-2), pages 3-19, June.
  4. Gräbner, Claudius, 2014. "Agent-Based Computational Models - A Formal Heuristic for Institutionalist Pattern Modelling?," MPRA Paper 56415, University Library of Munich, Germany.
  5. Teppo Felin & Nicolai J. Foss, 2004. "Organizational Routines A Sceptical Look," DRUID Working Papers 04-13, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
  6. Paul, Bénédique, 2012. "Technology and institutions: Theoretical aspects of institutional innovation and its deficiency in Haiti," MPRA Paper 39140, University Library of Munich, Germany.
  7. Marletto, Gerardo, 2012. "Which conceptual foundations for environmental policies? An institutional and evolutionary framework of economic change," MPRA Paper 36441, University Library of Munich, Germany.
  8. Geoffrey Hodgson & Thorbjoern Knudsen, 2012. "Agreeing on generalised Darwinism: a response to Pavel Pelikan," Journal of Evolutionary Economics, Springer, Springer, vol. 22(1), pages 9-18, January.
  9. Tassos Patokos, 2014. "Introducing Disappointment Dynamics and Comparing Behaviors in Evolutionary Games: Some Simulation Results," Games, MDPI, Open Access Journal, MDPI, Open Access Journal, vol. 5(1), pages 1-25, January.
  10. Geoffrey Hodgson & Shuxia Jiang, 2008. "La economía de la corrupción y la corrupción de la economía: una perspectiva institucionalista," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, Universidad Externado de Colombia - Facultad de Economía, vol. 10(18), pages 55-80, January-J.
  11. Peter Abell & Teppo Felin & Nicolai Foss, 2007. "Building Micro-Foundations for the Routines, Capabilities, and Performance Links," DRUID Working Papers 07-02, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
  12. Jan Schnellenbach, 2008. "Rational Ignorance is not Bliss: When do Lazy Voters Learn from Decentralised Policy Experiments?," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), Justus-Liebig University Giessen, Department of Statistics and Economics, Justus-Liebig University Giessen, Department of Statistics and Economics, vol. 228(4), pages 372-393, August.
  13. Jack Vromen, 2007. "Generalized Darwinism in Evolutionary Economics: The Devil is in the Details," Papers on Economics and Evolution 2007-11, Philipps University Marburg, Department of Geography.
  14. Gerardo Marletto, 2012. "Which Conceptual Foundations For Environmental Policies? An Institutional And Evolutionary Framework Of Economic Change," Working Papers, CREI Università degli Studi Roma Tre 0112, CREI Università degli Studi Roma Tre, revised 2012.
  15. Paul, Bénédique & Garrabé, Michel, 2011. "Le capital institutionnel dans l'analyse du développement : Prolongement théorique et premier test empirique
    [Institutional Capital in Economic Development Analysis: Theoretical Continuation and Fi
    ," MPRA Paper 39016, University Library of Munich, Germany.
  16. Olivier Brette & Thomas Buhler & Nathalie Lazaric & Kevin Marechal, 2014. "Reconsidering the Nature and Effects of Habits in Urban Transportation Behaviour," GREDEG Working Papers, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), University of Nice Sophia Antipolis 2014-10, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), University of Nice Sophia Antipolis.
  17. Hodgson, Geoffrey M. & Knudsen, Thorbjørn, 2008. "The emergence of property rights enforcement in early trade: A behavioral model without reputational effects," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 68(1), pages 48-62, October.
  18. Becker, Markus C. & Zirpoli, Francesco, 2008. "Applying organizational routines in analyzing the behavior of organizations," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 66(1), pages 128-148, April.
  19. G. Hodgson & T. Knudsen, 2004. "The Nature and Units of Social Selection," Papers on Economics and Evolution 2004-24, Philipps University Marburg, Department of Geography.
  20. Geoffrey Hodgson, 2007. "Taxonomizing the Relationship Between Biology and Economics: A Very Long Engagement," Journal of Bioeconomics, Springer, Springer, vol. 9(2), pages 169-185, August.

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