Custom is a key factor for economic performance. Social and economic institutions build on it. The purpose of this paper is to reflect on the motivational force of custom per se, as brought about by history. History creates entitlements, and these influence behavior. Custom is thus understood as a set of behavioral dispositions inherited from the past. In this, the present considerations deviate from earlier approaches that take custom as being stabilized by external rewards and sanctions alone
|Date of creation:||1993|
|Date of revision:|
|Publication status:||Published in Journal of institutional and theoretical economics 1 149(1993): pp. 178-203|
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