| Author: | Caplin, A. Nalebuff, B. |
| Title: | Competition among institutions |
| Journal: | Journal of Economic Theory
1997 : FEB, VOL. 72:2, p. 306-342 |
| Index terms: | ECONOMIC THEORY INSTITUTIONS GROUPS COMPETITION |
| Language: | eng |
| Abstract: | There are two different approaches to the analysis of groups and social institutions within economic theory, general equilibrium approach and game theory. An integrative approach is introduced:an institutions policy depends on its membership while the membership depends on the policies of the institutions. Three distinct mathematical approaches are presented, highlighting the algebraic nature of the question of existence of equilibrium. The apparatus presented cover many economic and political environments. |
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