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Institutional Economics "An Introduction"

An Introduction

Institutional Economics "An Introduction". An Introduction

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  • ISBN:9780230550742
  • Editorial: Palgrave
  • Fecha de la edición:
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  • Dimensiones: 0 cm x 0 cm
  • Nº Pág.:416
  • Idiomas:Ingles,Inglés

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This wide-ranging and highly accessible introduction presents both the key theories of Original Institutional Economics and New Institutional Economics in a balanced and intuitive way, reserving technical discussions mainly for appendices. The authors have assumed only minimal, principles-level, knowledge of economics on the part of the reader, making the text ideally suited for use as core reading in undergraduate courses as well as in graduate courses where the backgrounds of students are diverse.

List of Figures, Tables and Boxes
Pt. I Introduction
Introduction 2
1 What Is Institutional Economics About? 5
Introduction: a world of transactions 5
Coordinating transactions in a complex world 8
Institutional Economics 13
Institutions matter 36
A brief outline of the book 38
Review questions 42
App. A Neoclassical analysis of market structures 44
App. B Deviations from the perfect competition model 50
Pt. II Theory
Introduction 54
2 Theoretical Framework 55
Introduction 55
On theory 56
Two schools in Institutional Economics: NIE and OIE 64
On the relevance of institutional theories 78
A closer look at economic systems 82
Concluding remarks 85
Review questions 85
App. A Veblen and Commons, the founding fathers of Institutional Economics 87
App. B Douglass North 88
3 Static Approaches to Institutions 91
Introduction 91
Property rights theory 93
Contract theories 106
Transaction cost theory of governance structures 118

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