The game should install ..
Some on-line games require a disc in place in the tray at all times when running, and it is also authenticity-checked through serial or other means. If you are online from another PC with this type, most likely it will fail.
Other less protected games will install, register and run without using the disc.
If you place the disc, and open with Windows Explorer ... the autorun should work. If it doesn't, your Windows 'autorun' is broken or locked ... or the disc is no good.
Check/open the disc top level .INF file with notepad, and see if the paths relate to the content on the disc. Setup.exe should run the disc.