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Overview
"For those who wonder how ethics and psychology fit into economics, A. Allan Schmid's text, Conflict and Cooperation, explores the importance of moral judgments in settling conflicts of interest, and the vast effects of human behavior on economic theories and models. Investigating the institutional "rules of the game" - both formal and informal - and how these rules change to serve competing interests, this text addresses the substantive impact of alternative institutions and institutional evolution. An economic framework emerges, acknowledging human learning and preference change, bounded rationality, and disequilibrium." With its broad applications and numerous practice and discussion questions, this text will appeal not only to students of economics, but also to those studying sociology, law, and political science.Synopsis
For those who wonder how ethics and psychology fit into economics, Allan Schmid’s innovative text, Conflict and Cooperation,explores the importance of moral judgments in settling conflicts of interest, and the vast effects of human behavior on economic theories and models. Investigating the institutional 'rules of the game' – both formal and informal – and how these rules change to serve competing interests, this text addresses the substantive impact of alternative institutions and institutional evolution. An economic framework emerges, acknowledging human learning and preference change, bounded rationality, and disequilibrium.
With its broad applications and numerous practice and discussion questions, this text will appeal not only to students of economics, but also to those studying sociology, law, and political science.
Editorials
From the Publisher
“A refreshing alternative to outdated microeconomics texts that endlessly parrot supply and demand, this book offers an analytically sharp, comprehensible, yet accessible guide to the new approaches that are rapidly transforming economics as a discipline.” Nancy Folbre, University of Massachusetts“Right from the beginning, Schmid's magnificent volume has individuals interacting with historically-given institutions. There is no isolated Robinson Crusoe here. Schmid’s book is a superb overview of the modern literature on human agency in an institutional setting; it is the best and most comprehensive introduction to this cutting-edge literature in modern economics.” Geoffrey Hodgson, University of Hertfordshire
“I strongly recommend the book both as a teaching resource and as a new broad statement of institutionalist theory.”
Land Economics