Thursday, October 15, 2009

And Managing the Commons - Institutional Economics on TV

Those of you who watch Curb Your Enthusiasm undoubtedly saw this. But it’s an excellent example of the informal rules we place on ourselves to direct the choices we make. Think of the hors-doeuvres table as a commons. This is an application of what the Nobel Prize in Economics is recognizing this year.

HT to friend and regular reader, Mark Witte at Northwestern University.

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