Ordnung

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German Working Papers in Law and Economics

AUTHOR:
Dieter Schmidtchen and Roland Kirstein

TITLE:
Ordnung

SUGGESTED CITATION:
Dieter Schmidtchen and Roland Kirstein (2001) "Ordnung", German Working Papers in Law and Economics: Vol. 2001: Article 15.
http://www.bepress.com/gwp/default/vol2001/iss1/art15

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ABSTRACT:

The paper defines "order" as constraints that are designed or spontaneously evolved to constrain human action sets in order to stabilze expectations, and therefore enhance coordination of interactive behavior. A simple model of evolutionary game theory is used to explain the evolution of conventions and to point out their role in the reduction of transaction costs.