Understanding Institutions: The Science and Philosophy of Living Together

A groundbreaking new synthesis and theory of social institutions

Understanding Institutions proposes a new unified theory of social institutions that combines the best insights of philosophers and social scientists who have written on this topic. Francesco Guala presents a theory that combines the features of three influential views of institutions: as equilibria of strategic games, as regulative rules, and as constitutive rules.

Guala explains key institutions like money, private property, a...