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Understanding Institutions: The Science and Philosophy of Living Together

Author

Listed:
  • Francesco Guala

    (University of Milan)

Abstract
Understanding Institutions proposes a new unified theory of social institutions that combines the best insights of philosophers and social scientists who have written on this topic. Francesco Guala presents a theory that combines the features of three influential views of institutions: as equilibria of strategic games, as regulative rules, and as constitutive rules. Guala explains key institutions like money, private property, and marriage, and develops a much-needed unification of equilibrium- and rules-based approaches. Although he uses game theory concepts, the theory is presented in a simple, clear style that is accessible to a wide audience of scholars working in different fields. Outlining and discussing various implications of the unified theory, Guala addresses venerable issues such as reflexivity, realism, Verstehen, and fallibilism in the social sciences. He also critically analyses the theory of "looping effects" and "interactive kinds" defended by Ian Hacking, and asks whether it is possible to draw a demarcation between social and natural science using the criteria of causal and ontological dependence. Focusing on current debates about the definition of marriage, Guala shows how these abstract philosophical issues have important practical and political consequences. Moving beyond specific cases to general models and principles, Understanding Institutions offers new perspectives on what institutions are, how they work, and what they can do for us.

Suggested Citation

  • Francesco Guala, 2016. "Understanding Institutions: The Science and Philosophy of Living Together," Economics Books, Princeton University Press, edition 1, number 10742.
    • Handle: RePEc:pup:pbooks:10742
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    Citations

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    Cited by:

    1. Radzvilas, Mantas & Karpus, Jurgis, 2021. "Team reasoning without a hive mind," Research in Economics, Elsevier, vol. 75(4), pages 345-353.
    2. repec:cup:judgdm:v:13:y:2018:i:1:p:137-149 is not listed on IDEAS
    3. Guilhem Lecouteux, 2018. "Bayesian game theorists and non-Bayesian players," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 25(6), pages 1420-1454, November.
    4. Guilhem Lecouteux, 2018. "What does “we” want? Team Reasoning, Game Theory, and Unselfish Behaviours," Revue d'économie politique, Dalloz, vol. 128(3), pages 311-332.
    5. Alessandro Piazza, 2021. "Collective Responsibility in the Cooperative Governance of Climate Change," Sustainability, MDPI, vol. 13(8), pages 1-18, April.
    6. Masahiro Tokunaga & Ravshan Shomurodov & Okiliddin Alimov, 2021. "A Conflict of State-led Initiative and Economic Rationality: Focusing on the State Language and Lingua Franca in Uzbekistan," KIER Working Papers 1068, Kyoto University, Institute of Economic Research.
    7. Vanderschraaf, Peter, 2021. "Contractarianisms and markets," Journal of Economic Behavior & Organization, Elsevier, vol. 181(C), pages 270-287.
    8. Frasser, Cristian & Guzmán, Gabriel, 2024. "The Plurality of Economic Classifications: Toward a New Strategy for Their Investigation," MPRA Paper 121166, University Library of Munich, Germany.
    9. Frasser, Cristian & Guzmán, Gabriel, 2020. "What do we call money? An appraisal of the money or non-money view," Journal of Institutional Economics, Cambridge University Press, vol. 16(1), pages 25-40, February.
    10. Cristina Bicchieri & Ryan Muldoon & Alessandro Sontuoso, 2018. "Social Norms," PPE Working Papers 0015, Philosophy, Politics and Economics, University of Pennsylvania.
    11. Michiru Nagatsu & Karen Larsen & Mia Karabegovic & Marcell Székely & Dan Mønster & John Michael, 2018. "Making good cider out of bad apples --- Signaling expectations boosts cooperation among would-be free riders," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 13(1), pages 137-149, January.
    12. Cyril Hédoin, 2016. "Community-Based Reasoning in Games: Salience, Rule-Following, and Counterfactuals," Games, MDPI, vol. 7(4), pages 1-17, November.

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