Understanding Douglass North in game-theoretic language |
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Authors: | Masahiko Aoki |
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Affiliation: | Stanford University, United States |
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Abstract: | By using game-theoretic language, this paper attempts to interpret the North's recent framework for institutional studies. Particularly relying on a foundational study of knowledge and culture in epistemic game theory, it clarifies three subtly different meanings of the beliefs used by North – behavioral, cultural, and elites’ subjective – in the evolutions of institutions. It also suggests the ways to respond to the North's call for interdisciplinary approach by applying analytical tools of strategic complementarities and linked games. |
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