Contributions

  • Richter, Rudolf, 1926- - Contributor

Publication

1997 - University of Michigan Press, Ann Arbor, Michigan

Language

English

Word Count

135,500 words, Guess

Page Count

542 pages

Identifiers

and 2 more
  • Library of Congress Control Number97030103
  • Goodreads4317490

Classifications

  • DDC330
  • LCCHB99.5 .F8713 1997

Description

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 the NIE literature fit into the general fabric of modern institutionalism, and how the new concepts put forward can be applied to institutional analysis. This book will be essential reading for economists attracted to the NIE approach. In addition, scholars from such disciplines as political science, sociology, and law will find the work useful as the NIE continues to gain wide academic acceptance.

Subjects

Series Statement

  • Economics, cognition, and society

Other Editions

  • Institutions and economic theory: the contribution of the new institutional economicsUniversity of Michigan Press1997-01-01

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