Jacques Lesourne uses rigorous modelling to analyse the emergence, working, and dissolution of institutions in economics.

This work analyzes the operation and demise of institutions in economics--starting with the notion of self-organization--taking into account the intervention of history, chance, necessity, and will. Beginning with the theory of microeconomics, Lesourne builds precise models based on explicit hypotheses and draws out the significance of the propositions obtained. Using systems, evolutionary and general equilibrium theories, as well as literature on institutional economics, Lesourne steps out of the present conceptual framework of microeconomics.

'This book is highly recommended for those who want to remain at the frontiers of theoretical developments in economic theory. And it gives a taste of new directions in economic thinking that may become dominant in future.' P.M. Mathur, (deceased), University of Aberystwyth, Economics of Planning 27: 1994