Social Arrangements and Economic Behavior

Andrew Postlewaite

Annals of Economics and Statistics, 2001, issue 63-64, 67-87

Abstract: The social organization of society can have an important effect on the economic organization of that society. By this, we mean that there are not markets to mediate the determination of all things people legitimately care about from an economic point of view. This "incompleteness" of markets will typically lead to an indeterminacy in the social organization, that is, in who associates with whom, who marries whom, and so on. We discuss these points in detail and illustrate them with several formal models.

Date: 2001
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Working Paper: Social Arrangements and Economic Behavior (1999)
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Persistent link: https://EconPapers.repec.org/RePEc:adr:anecst:y:2001:i:63-64:p:67-87

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