Different societies establish different conventions or institutions.
Sometimes these are established only for a short period and sometimes societies stick to them for a very long time. How societies establish conventions and move from one to another is explored in Professor Young's book with the help of a very abstract and yet very simple model. His work goes back to 1993 when two articles appeared in the same issue of the prestigious journal Econometrica . These articles dealt with a new approach in evolutionary game theory. The approach advocated in these articles became popular among game theorists since it allows one to narrow down the set of plausible equilibria in a game while simultaneously describing the process by which a population might or might not move towards a specific equilibrium.