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Author: Claude Ménard Publisher: Edward Elgar Publishing ISBN: Category : Business & Economics Languages : en Pages : 488
Book Description
A presentation of contributions from some of the world's leading economists, including Ronald Coase and Douglass North. It demonstrates the extent and depth of the New Institutional Economics research programme with special emphasis on the interaction between institutional factors.
Author: Claude Ménard Publisher: Edward Elgar Publishing ISBN: Category : Business & Economics Languages : en Pages : 488
Book Description
A presentation of contributions from some of the world's leading economists, including Ronald Coase and Douglass North. It demonstrates the extent and depth of the New Institutional Economics research programme with special emphasis on the interaction between institutional factors.
Author: W. Bentley MacLeod Publisher: MIT Press ISBN: 0262046873 Category : Business & Economics Languages : en Pages : 417
Book Description
A graduate textbook on microeconomics, covering decision theory, game theory, and the foundations of contract theory, with a unique focus on the empirical. This graduate-level text on microeconomics, covering such topics as decision theory, game theory, bargaining theory, contract theory, trade under asymmetric information, and relational contract theory, is unique in its emphasis on the interplay between theory and evidence. It reviews the microeconomic theory of exchange “from the ground up,” aiming to produce a set of models and hypotheses amenable to empirical exploration, with particular focus on models that are useful for the study of contracts, institutions, and organizations. It explores research that extends price theory to the exchange of commodities when markets are incomplete, discussing recent developments in the field. Topics covered include the relationship between theory and evidence; decision theory as it is used in contract theory and institutional design; game theory; axiomatic and strategic bargaining theory; agency theory and the class of models that are considered to constitute contract theory, with discussions of moral hazard and trade with asymmetric information; and the theory of relational contracts. The final chapter offers a nontechnical review that provides a guide to which model is the most appropriate for a particular application. End-of-chapter exercises help students expand their understanding of the material, and an appendix provides brief introduction to optimization theory and the welfare theorem of general equilibrium theory. Students are assumed to be familiar with general equilibrium theory and basic constrained optimization theory.
Author: Ménard, Claude Publisher: Edward Elgar Publishing ISBN: 1789904498 Category : Business & Economics Languages : en Pages : 200
Book Description
New institutional economics (NIE) is a powerful tool for understanding real world phenomena. This Advanced Introduction explores NIE’s answers to fundamental questions about the organization, growth and development of economies, such as why are some countries rich and others poor? Why are activities organized as firms or markets or through alternative organizational solutions? When are shared resources overexploited?
Author: Oliver E. Williamson Publisher: Simon and Schuster ISBN: 068486374X Category : Business & Economics Languages : en Pages : 473
Book Description
This long-awaited sequel to the modem classic "Markets and Hierarchies" develops and extends Williamson's innovative use of transaction cost economics as an approach to studying economic organization by applying it to work and labor as well as the corporation itself. In addition, Williamson explores its growing implications for public policy, including its potential influence on antitrust and merger guidelines, labor policy, and SEC and public utility regulations.
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: Eric Alston Publisher: Cambridge University Press ISBN: 110708637X Category : Business & Economics Languages : en Pages : 409
Book Description
Why isn't the whole world developed? This toolkit for institutional analysis explains how rules affect the performance of countries, firms, and even families.
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.
Author: Oliver Hart Publisher: Clarendon Press ISBN: 0191521728 Category : Business & Economics Languages : en Pages : 244
Book Description
This book provides a framework for thinking about economic instiutions such as firms. The basic idea is that institutions arise in situations where people write incomplete contracts and where the allocation of power or control is therefore important. Power and control are not standard concepts in economic theory. The book begins by pointing out that traditional approaches cannot explain on the one hand why all transactions do not take place in one huge firm and on the other hand why firms matter at all. An incomplete contracting or property rights approach is then developed. It is argued that this approach can throw light on the boundaries of firms and on the meaning of asset ownership. In the remainder of the book, incomplete contacting ideas are applied to understand firms' financial decisions, in particular, the nature of debt and equity (why equity has votes and creditors have foreclosure rights); the capital structure decisions of public companies; optimal bankruptcy procedure; and the allocation of voting rights across a company's shares. The book is written in a fairly non-technical style and includes many examples. It is aimed at advanced undergraduate and graduate students, academic and business economists, and lawyers as well as those with an interest in corporate finance, privatization and regulation, and transitional issues in Eastern Europe, the former Soviet Union, and China. Little background knowledge is required, since the concepts are developed as the book progresses and the existing literature is fully reviewed.
Author: Claude Ménard
Author: Claude Ménard
Author: Eric Brousseau
Author: W. Bentley MacLeod
Author: Ménard, Claude
Author: Oliver E. Williamson
Author: Avner Greif
Author: Douglass C. North
Author: Eric Alston
Author: Eirik G. Furubotn
Author: Oliver Hart