Today’s business organizations, especially large ones, are complex places; difficult to manage and to control. Much of this complexity is self-induced and too much of the management of these organizations is done on an ad hoc basis....

This book uses game theory to analyse the creation, evolution and function of economic and social institutions. The author illustrates his analysis by describing the organic or unplanned evolution of institutions such as the conventions of war, the use of money, property rights, and oligopolistic pricing conventions....