Individuals, Institutions, and Markets

This book shows how the institutional framework of a society emerges and how markets within institutions work.

C. Mantzavinos (Author)

9780521773584, Cambridge University Press

Hardback, published 8 January 2001

336 pages
23.8 x 16.2 x 2.8 cm, 0.6 kg

'Mantzavinos does provide a detailed synthesis of the literature and an exposition of the links among … levels of explanation that is not readily accessible elsewhere.' Current Anthropology

Individuals, Institutions, and Markets offers a theory of how the institutional framework of a society emerges and how markets within institutions work. The book shows that both social institutions, defined as the rules of the game, and exchange processes can be analyzed along a common theoretical structure. Mantzavinos' proposal is that a problem solving model of individual behavior inspired by the cognitive sciences provides such a unifying theoretical structure. Integrating the latest scholarship in economics, sociology, political science, law, and anthropology, Mantzavinos offers a genuine political economy showing how social institutions affect economic outcomes.

Preface
Acknowledgements
Part I. Individuals: 1. Explaining individual behavior: the problem-solving framework
2. The motivational aspect: the strive for utility increase
3. The cognitive aspect: the theory of learning
4. The choice aspect
Part II. Institutions: 5. Shared mental models: emergence and evolution
6. Explaining institutions
7. Informal institutions
8. Formal institutions
Part III. Markets: 9. Institutions and the market: the aggregate level
10. Institutions and market: the microeconomic level
11. The theory of evolutionary competition
12. An application: institutions, markets, and economic development
Concluding observations: unified social science as political economy?
References
Author index
Subject index.

Subject Areas: Law [L], Political economy [KCP], Economics [KC], Political science & theory [JPA], Social & cultural anthropology, ethnography [JHMC], Sociology [JHB]