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Author: Rudolf Richter Publisher: Springer ISBN: 3319141546 Category : Business & Economics Languages : en Pages : 205
Book Description
This collection of essays comprises some of Rudolf Richter’s important contributions to research on New Institutional Economics (NIE). It deals with the central idea, principles, and methodology of New Institutional Economics and explores its relation to sociology and law. Other chapters examine applications of NIE to various microeconomic and macroeconomic issues in the face of uncertainty, from entrepreneurship to the euro crisis.
Author: Douglass C. North Publisher: Cambridge University Press ISBN: 9780521397346 Category : Political Science Languages : en Pages : 164
Book Description
An analytical framework for explaining the ways in which institutions and institutional change affect the performance of economies is developed in this analysis of economic structures.
Author: Eirik Grundtvig Furubotn Publisher: University of Michigan Press ISBN: 9780472086801 Category : Business & Economics Languages : en Pages : 576
Book Description
A comprehensive introduction to and critical assessment of the theory and applications of the New Institutional Economics.
Author: Marc R. Tool Publisher: Springer Science & Business Media ISBN: 9401139989 Category : Business & Economics Languages : en Pages : 234
Book Description
J. Fagg Foster (1907-1985) was one of the most significant creators of institutionalist economic theory in the twentieth century. He wrote and taught in the American intellectual tradition of Thorstein Weblen, John R. Commons, John Dewey and Clarence E. Ayres. This tradition shares purpose and philosophy with the European contributors, Gunnar Myrdal and K. William Kapp. Because little of Foster's scholarly work was formally published, professional knowledge of his extraordinary contribution is quite limited beyond the circle of his students and colleagues. Value Theory and Economic Progress attempts to correct that deficiency by providing an extended characterization of this missing and crucial component of the development of American heterodox economic thought. Its purpose is to demonstrate the timely relevance and significance of this model of inquiry in political economy. In addition, this volume explains that contemporary problem solving means changing `what is' into `what ought to be' through institutional adjustments; such a demonstration is at the heart of Foster's contribution to institutional thought.
Author: Ekkehart Schlicht Publisher: OUP Oxford ISBN: 0191521914 Category : Business & Economics Languages : en Pages : 344
Book Description
The aim of this book is to re-establish custom in economics. Current economic theorizing largely neglects the forces of custom that underpin market exchange. Economic sociologists have stressed this repeatedly by referring to the 'embeddedness' of all kinds of economic processes. However, while it is true that market transactions hinge critically on elements of custom, economic processes shape shape custom in turn. This other causal direction needs more attention than it has hitherto received. The way modern institutional economics has developed points to the same deficiency. Institutional economics initially tried to analyse economic institutions as arising from market processes and competition while avoiding reference to all elements of custom, but it became increasingly clear that the answers so obtained were critically dependent on tacit assumptions about the customary infrastructure. One aim of the book is to provide the necessary link between customary elements and market processes. A current strand of thought, notably originating with game theory, has tried to understand the emergence of customs by interpreting them as routines that have been adopted because they were competitively successful. This approach takes customs essentially as conventions that solve coordination problems. It is driven by the economic paradigm that interprets behaviour as fully reducible to the interplay of (given) preferences and constraints while neglecting the direct motivational impact of custom. A second aim of the book is thus to systematically harmonize the motivational significance of custom with institutional theorizing in a systematic way. The re-establishment of custom in economics will provide foundations for institutional thinking and will help in reducing the arbitrariness of current thought.
Author: Eirik G. Furubotn Publisher: University of Michigan Press ISBN: 9780472030255 Category : Business & Economics Languages : en Pages : 676
Book Description
This second edition assesses some of the major refinements, extensions, and useful applications that have developed in neoinstitutionalist thought in recent years. More attention is given to the overlap between the New Institutional Economics and developments in economic history and political science. In addition to updated references, new material includes analysis of parallel developments in the field of economic sociology and its attacks on representatives of the NIE as well as an explanation of the institution-as-an-equilibrium-of-game approach. Already an international best seller, Institutions and Economic Theory is essential reading for economists and students attracted to the NIE approach. Scholars from such disciplines as political science, sociology, and law will find the work useful as the NIE continues to gain wide academic acceptance. A useful glossary for students is included. Eirik Furubotn is Honorary Professor of Economics, Co-Director of the Center for New Institutional Economics, University of Saarland, Germany and Research Fellow, Private Enterprise Research Center, Texas A&M University. Rudolph Richter is Professor Emeritus of Economics and Director of the Center for New Institutional Economics, University of Saarland, Germany.