On the Notion of Social Institutions
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 (Hurwicz (1996, p.123)).
|Date of creation:||2002|
|Date of revision:|
|Contact details of provider:|| Postal: Campus de Campolide, 1099-032 Lisboa|
Phone: (351) 21 3801638
Fax: (351) 21 3870933
Web page: http://www.fe.unl.pt
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Okuno-Fujiwara Masahiro & Postlewaite Andrew, 1995. "Social Norms and Random Matching Games," Games and Economic Behavior, Elsevier, vol. 9(1), pages 79-109, April.
When requesting a correction, please mention this item's handle: RePEc:unl:unlfep:wp421. 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: (Sean Story)
If references are entirely missing, you can add them using this form.