EconPapers    
Economics at your fingertips  
 

Institutions and Impersonal Exchange: From Communal to Individual Responsibility

Avner Greif ()

Journal of Institutional and Theoretical Economics (JITE), 2002, vol. 158, issue 1, 168-204

Abstract: This paper utilizes historical evidence and game theory to examine institutions that fostered intercommunity impersonal exchange during the late medieval period. It presents the community responsibility system that functioned throughout Europe and supported impersonal exchange despite the lack of impartial legal enforcement provided by a third party. At its center was the use of intracommunity contract enforcement institutions to provide the enforcement required for inter-community impersonal exchange. Atransition toward individual legal responsibility during the late thirteenth century reflects the system's contributions to its own decline. The processes that it fostered reduced its economic efficiency and (intra-community) political viability.

JEL-codes: N0 N2 C7 (search for similar items in EconPapers)
Date: 2002
References: Add references at CitEc
Citations: View citations in EconPapers (40) Track citations by RSS feed

Downloads: (external link)
https://www.mohrsiebeck.com/article/institutions-a ... 16280932456022975538
Fulltext access is included for subscribers to the printed version.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:mhr:jinste:urn:sici:0932-4569(200203)158:1_168:iaiefc_2.0.tx_2-a

Ordering information: This journal article can be ordered from
Mohr Siebeck GmbH & Co. KG, P.O.Box 2040, 72010 Tübingen, Germany

Access Statistics for this article

Journal of Institutional and Theoretical Economics (JITE) is currently edited by Gerd Mühlheußer and Bayer, Ralph-C

More articles in Journal of Institutional and Theoretical Economics (JITE) from Mohr Siebeck, Tübingen
Bibliographic data for series maintained by Thomas Wolpert ().

 
Page updated 2019-10-13
Handle: RePEc:mhr:jinste:urn:sici:0932-4569(200203)158:1_168:iaiefc_2.0.tx_2-a