?url_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Adc&rft.relation=https%3A%2F%2Fpure.iiasa.ac.at%2Fid%2Feprint%2F4994%2F&rft.title=Social+Coordination+and+Social+Change&rft.creator=Young%2C+H.P.&rft.description=Social+and+economic+institutions+govern+how+people+interact+with+each+other--they+define+the+%22rules+of+the+game.%22+Choosing+the+rules+is+at+bottom+a+pure+coordination+problem%2C+since+people+must+agree+on+the+rules+in+order+to+play.+%0D%0A%0D%0AWe+posit+that+these+rules+evolve+endogenously+through+the+repeated+interactions+of+individuals.+They+choose+best+replies+to+their+environment+subject+to+some+inertia+and+error.+Over+the+long+run%2C+such+a+process+selects+institutions+(rules)+that+are+efficient%2C+and+fair+in+the+sense+that+the+expected+payoffs+are+centrally+located+on+the+Pareto+frontier+of+the+payoff+possibility+set.&rft.publisher=WP-96-032&rft.date=1996-06&rft.type=Monograph&rft.type=NonPeerReviewed&rft.format=text&rft.language=en&rft.identifier=https%3A%2F%2Fpure.iiasa.ac.at%2Fid%2Feprint%2F4994%2F1%2FWP-96-032.pdf&rft.identifier=++Young%2C+H.P.+%3Chttps%3A%2F%2Fpure.iiasa.ac.at%2Fview%2Fiiasa%2F2539.html%3E++(1996).++Social+Coordination+and+Social+Change.+++IIASA+Working+Paper.+IIASA%2C+Laxenburg%2C+Austria%3A+WP-96-032+++++