> I think rules are already a large part of economic reasoning. I mean, what > are game theory and institutional economics if not rule based econ? Also,
Well, even these forms of reasoning, especially game theory are about utility maximization. My point is that actors in games may say "screw this! I'll use rules!" Consider chess. Even the very, very best chess players don't search for maximial outcomes because they can't see what will happen more than five moves ahead of the present move. Instead, they seem to explore the next three or four moves and then apply some rules developed from years of studying the game. Now that I think about it, chess may be a great example of what I am talking about. A traditional economic approach to chess would be to delinieate all strategies and figure out the Nash eq of chess. This is insane. Chess games seem to be a combination of rule behavior ("try top control the center board," "castle early as you can") with a little bit of search through a gigantic strategy space. Fabio