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The Economics of Adaptation and Long-term Relationships
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The Economics of Adaptation and Long-term Relationships

Edward Elgar Publishing • 2019 • 257 pages
Do institutions matter in economic theory? Or is the economic analysis of institutions a distraction from the most important action? Indeed, does Vernon Smith’s notion of the “institution-free core” of formal economic theory encompass that most important action? To explore this question, this book opens with an informal tour of the economics of system design out of which an economics of adaptation ultimately emerged. The book then offers explorations, via the application of the economics of adap...
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Dean Victor Williamson

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