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On the Notion of Social Institutions

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Author Info
Guilherme Carmona

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Abstract

We argue that it is natural to study social institutions within the framework of standard game theory (i.e., only by resorting to concepts like players, actions, strategies, information sets, payoff functions, and stochastic processes describing the moves of nature, which constitute a stochastic game when combined) --- concepts like ``social norms,'' and ``mechanisms'' can be easily accommodated, as well as philosophical/sociological definitions of social institutions Focusing on strategies rather than on mechanisms have two advantages: First, focusing on strategies allows us to distinguish between those aspects that are behavioral in nature and are subject to alternative design, and those that are part of the environment. Second, considering strategies allows for a more detailed look into the way an outcome function is ``genuinely implemented'' (see Hurwicz (1996)).

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File URL: http://129.3.20.41/eps/game/papers/0402/0402005.pdf
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Publisher Info
Paper provided by EconWPA in its series Game Theory and Information with number 0402005.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 15 pages
Date of creation: 27 Feb 2004
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Handle: RePEc:wpa:wuwpga:0402005

Note: Type of Document - pdf; prepared on winxp; to print on general; pages: 15; figures: 0. none
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Web page: http://129.3.20.41

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Related research
Keywords: Social institutions; mechanism design;

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Find related papers by JEL classification:
C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games

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References listed on IDEAS
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  1. North, Douglass C, 1991. "Institutions," Journal of Economic Perspectives, American Economic Association, vol. 5(1), pages 97-112, Winter. [Downloadable!] (restricted)
  2. Okuno-Fujiwara Masahiro & Postlewaite Andrew, 1995. "Social Norms and Random Matching Games," Games and Economic Behavior, Elsevier, vol. 9(1), pages 79-109, April. [Downloadable!] (restricted)
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This page was last updated on 2010-1-4.

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