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The Evolution of Norms and Conventions in Economics

Institution: University of Vienna

Funding agency: WWTF (Vienna Science and Technology Fund)

Amount: 450.000 euro

Project duration: 2009 - 2015

Contact persons Maarten Janssen

Other teamleaders: Simon Weidenholzer and Josef Hofbauer


Short description:
Evolutionary game theory has developed into a major field of research at the interplay of mathematics, economics and biology. One of the main general aims of the analysis of evolutionary game theory is to study the conditions under which a population of players settles over time on a stable behavioural pattern. Economists have been interested in these developments in order to better understand (i) how social norms
and conventions emerge, (ii) how these norms and conventions influence indiviudal economic behaviour and (iii) the conditionsunder which these norms and conventions are stable over time. the present research project aims to contribute to this general field of inquiry by studying four subprojects, namely on (a) Social norms and economic incentives, (b) Work ethics and minimum effort games, (c) Selecting with whom to play and (d) Evolutionary equilibrium selection techniques.

Department of Economics
University of Vienna

Oskar-Morgenstern-Platz 1
A-1090 Vienna
T: +43-1-4277-374 04
F: +43-1-4277-9374
E-Mail
University of Vienna | Universitätsring 1 | 1010 Vienna | T +43-1-4277-0