Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/179437 
Year of Publication: 
2017
Series/Report no.: 
ICAE Working Paper Series No. 74
Publisher: 
Johannes Kepler University Linz, Institute for Comprehensive Analysis of the Economy (ICAE), Linz
Abstract: 
This paper illustrates the usefulness of computational methods for the investigation of institutions. As an example, we use a computational agent-based model to study the role of general trust and social control in informal value transfer systems (ITVS). We find that, how and in which timeline general trust and social control interact in order to make ITVS work, become stable and highly effective. The case shows how computational models may help (1) to operationalize institutional theory and to clarify the functioning of institutions, (2) to test the logical consistency of alternative hypotheses about institutions, and (3) to relate institutionalist theory with other paradigms and to practice an interested pluralism.
Subjects: 
agent-based computational economics
evolutionary-institutional economics
informal value transfer systems
general trust
social control
JEL: 
C63
C72
D02
F33
G23
Document Type: 
Working Paper

Files in This Item:
File
Size
731.77 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.