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Understanding Douglass North in game-theoretic language

  • Aoki, Masahiko
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    By using game-theoretic language, this paper attempts to interpret the North's recent framework for institutional studies. Particularly relying on a foundational study of knowledge and culture in epistemic game theory, it clarifies three subtly different meanings of the beliefs used by North - behavioral, cultural, and elites' subjective - in the evolutions of institutions. It also suggests the ways to respond to the North's call for interdisciplinary approach by applying analytical tools of strategic complementarities and linked games.

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    File URL: http://www.sciencedirect.com/science/article/B6VFN-4XRCRNK-2/2/75f1f25dafe2468835af469a756e6ff2
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    Article provided by Elsevier in its journal Structural Change and Economic Dynamics.

    Volume (Year): 21 (2010)
    Issue (Month): 2 (May)
    Pages: 139-146

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    Handle: RePEc:eee:streco:v:21:y:2010:i:2:p:139-146
    Contact details of provider: Web page: http://www.elsevier.com/locate/inca/525148

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    1. Aoki, Masahiko, 2010. "Corporations in Evolving Diversity: Cognition, Governance, and Institutions," OUP Catalogue, Oxford University Press, number 9780199218530, March.
    2. R. Aumann, 2010. "Correlated Equilibrium as an expression of Bayesian Rationality," Levine's Bibliography 513, UCLA Department of Economics.
    3. Paul Milgrom, 1979. "An Axiomatic Characterization of Common Knowledge," Discussion Papers 393R, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    4. Arrow, Kenneth J, 1994. "Methodological Individualism and Social Knowledge," American Economic Review, American Economic Association, vol. 84(2), pages 1-9, May.
    5. Cubitt, Robin P. & Sugden, Robert, 2003. "Common Knowledge, Salience And Convention: A Reconstruction Of David Lewis' Game Theory," Economics and Philosophy, Cambridge University Press, vol. 19(02), pages 175-210, October.
    6. Martin J Osborne & Ariel Rubinstein, 2009. "A Course in Game Theory," Levine's Bibliography 814577000000000225, UCLA Department of Economics.
    7. Aumann, Robert & Brandenburger, Adam, 1995. "Epistemic Conditions for Nash Equilibrium," Econometrica, Econometric Society, vol. 63(5), pages 1161-80, September.
    8. Smith, Adam, 1759. "The Theory of Moral Sentiments," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number smith1759.
    9. Masahiko Aoki, 2001. "Toward a Comparative Institutional Analysis," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262011875, June.
    10. Douglass C. North, 2005. "Introduction to Understanding the Process of Economic Change
      [Understanding the Process of Economic Change]
      ," Introductory Chapters, Princeton University Press.
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