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Co-evolution of economic behaviour and institutions: towards a theory of institutional change
journal contributionposted on 2023-06-08, 09:22 authored by Jeroen C J M van den Bergh, Sigrid Stagl
Traditionally, economics has regarded institutions, notably norms and regulations, as ?xed or exogenous. Surprisingly few insights on institutional evolution from natural and social sciences have made their way into economics. This article gives an overview of evolutionary theories of institutions in biology, sociology, anthropology and economics. These theories are subsequently compared with non-evolutionary theories of institutions. Next, the insights and approaches are integrated into a framework for analysis of institutions based on the notion of coevolution.
JournalJournal of Evolutionary Economics
Department affiliated with
- SPRU - Science Policy Research Unit Publications
NotesMainstream economics lacks a positive theory of the evolution of institutions. This paper draws on propositions about coevolution from a broad range of disciplines (ecology, evolutionary psychology, evolutionary economics, etc.) to build some of the bases for such a theoretical step. Dr Stagl¿s contribution lay principally in the wide disciplinary spread of the paper plus its focus on coevolution.
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