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The Complex Evolution of a Simple Traffic Convention: the Functions and Implications of Habit

In: Institutional Change and Economic Behaviour

Author

Listed:
  • Geoffrey M. Hodgson

    (University of Hertfordshire)

  • Thorbjørn Knudsen

    (University of Southern Denmark)

Abstract

This chapter presents an agent-based simulation of the emergence of a traffic convention — concerning whether to drive on the left or the right of the road. The interaction between agents and structures involves causal influences in two directions, showing how agents constitute institutions and how institutions can have reconstitutive causal effects on individuals.

Suggested Citation

  • Geoffrey M. Hodgson & Thorbjørn Knudsen, 2008. "The Complex Evolution of a Simple Traffic Convention: the Functions and Implications of Habit," International Economic Association Series, in: János Kornai & László Mátyás & Gérard Roland (ed.), Institutional Change and Economic Behaviour, chapter 9, pages 178-199, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-0-230-58342-9_9
    DOI: 10.1057/9780230583429_9
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    References listed on IDEAS

    as
    1. Geoffrey M. Hodgson, 2003. "The hidden persuaders: institutions and individuals in economic theory," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 27(2), pages 159-175, March.
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