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Anomalie e istituzioni

Anomalies and Institutions

Anno XXIV, n. 105, aprile-giugno 1989
Centro Einaudi


Abstract disponibile solo in lingua inglese

One major reason for the emergence of social institutions is irrational or anomalous behaviour by individuals.
Such institutions may either prevent the anomalies or reduce the cost for the individuals affected, or redistribute the cost. The type of institutions emerging depends on three determinants: the extent to which individuals are aware of the cost resulting from anomalous behaviour, the (transaction) cost of reacting to the cost arising, and whether the reaction is on the individual or on the collective level.