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On Custom

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  • Schlicht, Ekkehart

Abstract

Custom is a key factor for economic performance. Social and economic institutions build on it. The purpose of this paper is to reflect on the motivational force of custom per se, as brought about by history. History creates entitlements, and these influence behavior. Custom is thus understood as a set of behavioral dispositions inherited from the past. In this, the present considerations deviate from earlier approaches that take custom as being stabilized by external rewards and sanctions alone

Suggested Citation

  • Schlicht, Ekkehart, 1993. "On Custom," Munich Reprints in Economics 3163, University of Munich, Department of Economics.
    • Handle: RePEc:lmu:muenar:3163
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    References listed on IDEAS

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    1. Schlicht Ekkehart, 2000. "Aestheticism in the Theory of Custom," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 10(1), pages 1-21, March.
    2. Hart, Oliver & Moore, John, 1990. "Property Rights and the Nature of the Firm," Journal of Political Economy, University of Chicago Press, vol. 98(6), pages 1119-1158, December.
    3. Schlicht, Ekkehart, 1979. "The Transition to Labour Management as a Gestalt Switch," Munich Reprints in Economics 3388, University of Munich, Department of Economics.
    4. David Romer, 1984. "The Theory of Social Custom: A Modification and Some Extensions," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 99(4), pages 717-727.
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    8. Klein, Benjamin & Crawford, Robert G & Alchian, Armen A, 1978. "Vertical Integration, Appropriable Rents, and the Competitive Contracting Process," Journal of Law and Economics, University of Chicago Press, vol. 21(2), pages 297-326, October.
    9. George A. Akerlof & Rachel E. Kranton, 2000. "Economics and Identity," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 115(3), pages 715-753.
    10. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
    11. George A. Akerlof, 1980. "A Theory of Social Custom, of which Unemployment may be One Consequence," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 94(4), pages 749-775.
    12. Arthur, W Brian, 1989. "Competing Technologies, Increasing Returns, and Lock-In by Historical Events," Economic Journal, Royal Economic Society, vol. 99(394), pages 116-131, March.
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    14. Schlicht, Ekkehart, 1998. "On Custom in the Economy," OUP Catalogue, Oxford University Press, number 9780198292241.
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    17. repec:bla:kyklos:v:32:y:1979:i:4:p:775-801 is not listed on IDEAS
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    Cited by:

    1. Rivera-Camino, Jaime, 2012. "Corporate environmental market responsiveness: A model of individual and organizational drivers," Journal of Business Research, Elsevier, vol. 65(3), pages 402-411.

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