Evolution and Design of Institutions

Download or read book Evolution and Design of Institutions written by Christian Schubert and published by Routledge. This book was released on 2006-09-27 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book comprises nine papers approaching designed institutions and their interplay with spontaneous institutions from various angles. While the evolution of spontaneous institutions is quite well understood in economic thinking, the development of consciously designed institutions has been examined much less. In new institutional economics, public choice, and law and economics the interaction between changing preferences and spontaneously evolving institutions on the one hand and the evolution of designed institutions (as, e.g., legal systems) on the other hand has largely been ignored. A number of top class international contributors have been assembled to study this phenomenon including Viktor Vanberg, Bruno Frey, Elinor Ostrom and Francesco Parisi.