IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Log in (now much improved!) to save this article

Special Issue: Aspects of Game Theory and Institutional Economics

Listed author(s):
  • Wolfram Elsner

    ()

    (Structural Research and Policy Division, (iino) Institute for Institutional and Innovation Economics, Department of Business Studies and Economics, University of Bremen, Hochschulring 4, D-28359 Bremen, Germany)

  • Torsten Heinrich

    ()

    (Structural Research and Policy Division, (iino) Institute for Institutional and Innovation Economics, Department of Business Studies and Economics, University of Bremen, Hochschulring 4, D-28359 Bremen, Germany)

  • Henning Schwardt

    ()

    (Structural Research and Policy Division, (iino) Institute for Institutional and Innovation Economics, Department of Business Studies and Economics, University of Bremen, Hochschulring 4, D-28359 Bremen, Germany)

  • Claudius Gräbner

    ()

    (Structural Research and Policy Division, (iino) Institute for Institutional and Innovation Economics, Department of Business Studies and Economics, University of Bremen, Hochschulring 4, D-28359 Bremen, Germany)

Classical economists from Adam Smith to Thomas Malthus and to Karl Marx have considered the importance of direct interdependence and direct interactions for the economy. This was even more the case for original institutionalist thinkers such as Thorstein Veblen, John Commons, and Clarence Ayres. In their writings, direct interdependence, interactions (or transactions) among agents, with all beneficial and with all problematic consequences, took center stage in economic analysis. Why, for instance, do people adhere to a particular new fashion or trend? Because others do, after eminent people, wealthy people, the “leisure class” (T. Veblen), have made it a symbol for status. The new fashion, however, ceases to serve as such a symbol once too many people follow it. The constant effort put into following trends and adopting fashion turns out to be a social dilemma , driven by Veblenian instincts, such as invidious distinction in predatory societies, conspicuous consumption and emulation. [...]

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.mdpi.com/2073-4336/5/3/188/pdf
Download Restriction: no

File URL: http://www.mdpi.com/2073-4336/5/3/188/
Download Restriction: no

Article provided by MDPI, Open Access Journal in its journal Games.

Volume (Year): 5 (2014)
Issue (Month): 3 (September)
Pages: 1-3

as
in new window

Handle: RePEc:gam:jgames:v:5:y:2014:i:3:p:188-190:d:39924
Contact details of provider: Web page: http://www.mdpi.com/

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:gam:jgames:v:5:y:2014:i:3:p:188-190:d:39924. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (XML Conversion Team)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.