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Economic conventions : essays in institutional evolution
Dissertation   Open access

Economic conventions : essays in institutional evolution

Karl Wärneryd
Economic Research Institute, Stockholm School of Economics (EFI)
Doctor of Philosophy (PHD), Stockholm School of Economics
1990

Abstract

Conventions are social institutions that solve recurrent coordination problems. Many of the written and unwritten rules that make up a modern market society may be said to have the coordinative property. This dissertation uses a game-theoretical framework to discuss the emergence and functioning of conventions of communication, private property rights, money, and the firm. In each case the anlysis provides new insigts for these classical areas of economic inquiry.
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