Institutions and Economic Theory The Contribution of the New Institutional Economics
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Edition: 2nd 2005
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A much-needed exploration of the New Institutional Economics, or NIE, including a critical assessment of its central theoretical contributions since the field's early beginnings in the 1960s, is this book's objective. It traces the development of major ideas about the genesis and significance of institutions as these ideas have been presented in the NIE. Given the fundamental understanding underlying work in this new area of research--that transactions involve the use of real resources and have costs--the book views the NIE as an amalgam of transaction-cost economics, property-rights analysis, and contract theory. Efforts are made to explain how the various theoretical strands discussed in…
Copyright year: 2005
Publisher: University of Michigan Press
Publication date: 10/21/2005
Size: 6.00" wide x 8.75" long x 1.50" tall
|Absolute property rights : ownership of physical objects|
|Relative property rights : contractual obligations|
|The new institutional economics applied to markets, firms, and the state : general remarks|
|The new institutional economics of the market|
|The new institutional economics of the firm|
|The new institutional economics of the state|
|Future development of the new institutional economics|