ISBN : 9780198823469
The aim of this book is to re-establish custom in economics and to provide the necessary link between customary elements and market processes. It seeks to systematically harmonize the motivational significance of custom with institutional theorizing in a systematic way. The re-establishment of custom in economics will provide foundations for institutional thinking and will help in reducing the arbitrariness of current thought.
Introduction
Part I: The Amalgam of Custom
1 A Web of Reinforcements
2 Entitlements and Obligations
3 Smooth and Lumpy Changes
4 Fuzziness
5 Adaptive Custom
6 Clarity
7 Rules and Schemata
8 Rule Preference
9 Attribution and Motivation
10 Custom and Style
Part II: Custom in Action
11 Property
12 The Law
13 The Firm
14 The Division of Labour
Part III: Review
15 The Texture of Custom
Appendices
A Notes on Method
B The Principle of Relativity
C Hume's Law
References
Index