Ordnung

Dieter Schmidtchen and Prof. Dr. Roland Kirstein
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Dieter Schmidtchen: uni-saarland

No 2001-1-1021, German Working Papers in Law and Economics from Berkeley Electronic Press

Abstract: The paper defines "order" as constraints that are designed or spontaneously evolved to constrain human action sets in order to stabilze expectations, and therefore enhance coordination of interactive behavior. A simple model of evolutionary game theory is used to explain the evolution of conventions and to point out their role in the reduction of transaction costs.

Keywords: Evolutorische Ökonomik; Spontane Ordnung; Transaktionskosten (search for similar items in EconPapers)
Note: oai:bepress:gwp-1021

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