Institutions frame behaviors and exchanges in markets, business networks, communities, and organizations throughout the world. Thanks to the pioneering work of Ronald Coase, Douglas North and Olivier Williamson, institutions are now recognized as being a key factor in explaining differences in performance between industries, nations, and regions. The fast-growing field of new institutional economics analyzes the economics of institutions and organizations using methodologies, concepts, and analytical tools from a wide range of disciplines (including political science, anthropology, sociology, management, law, and economics). With contributions from an international team of researchers, New Institutional Economics provides theoreticians, practitioners, and advanced students in economics and social sciences with a guide to the many recent developments in the field. It explains the underlying methodologies, identifies issues and questions for future research, and shows how results apply to decision making in law, economic policy, management, regulation and institutional design.
List of figures; List of tables; List of contributors; Acknowledgments; Foreword Oliver E. Williamson; A Road Map for the Guidebook Eric Brousseau and Jean-Michel Glachant; Introductory Chapter - New Institutional Economics: a Report Card Paul L. Joskow; Part I. Foundations: 1. The Theories of the Firm PIERRE GARROUSTE and STEPHANE SAUSSIER; 2. Contracts: From Bilateral Sets of Incentives to the Multi-Level Governance of Relations ERIC BROUSSEAU; 3. Institutions and the Institutional Environment JOHN NYE; 4. Human nature and institutional analysis BENITO ARRUNADA; Part II. Methodology: 5. The 'Case' for Case Studies in the New Institutional Economics LEE J. ALSTON; 6. New Institutional Econometrics: The Case of Research on Contracting and Organization MICHAEL E. SYKUTA; 7. Experimental methodology to inform New Institutional Economics Issues STEPHANE ROBIN and CARINE STAROPOLI; 8. Game Theory and Institutions THIERRY PENARD; Part III. Strategy and Management: 9. New-Institutional Economics, Organization and Strategy JACKSON NICKERSON and LYDA BIGELOW; 10. Inter-firm Alliances: A New Institutional Economics Approach JOANNE E. OXLEY and BRIAN S. SILVERMAN; 11. Governance Structure and Contractual Design in Retail Chains EMMANUEL RAYNAUD; Part IV. Industrial Organization: 12. Make or buy decisions: a NIE approach MANUEL GONZALEZ-Diaz and LUIS VAZQUEZ; 13. Transaction Costs, Property Rights, and the Tools of the New Institutional Economics: Water Rights and Water Markets GARY D. LIBECAP; 14. Contracting and Organization in Food and Agriculture MICHAEL L. COOK, PETER G. KLEIN and CONSTANTINE ILIOPOULOS; Part V. Institutional Design: 15. Buy, lobby or sue: interest group participation in policy making - a selective survey PABLO T. SPILLER and SANNY LIAO; 16. Regulation and Deregulation in network industry JEAN-Michel GLACHANT and YANNICK PEREZ; 17. Constitutional Political Economy - Analyzing the most basic layer of formal institutions STEFAN VOIGT; 18. New Institutional Economics and its Application on Transition and Developing Economies SONJA OPPER; Part VI. Challenges to Institutional Analysis: 19. Law and Economics in Retrospect ANTONIO NICITA and UGO PAGANO; 20. The Theory of the Firm and Its Critics: a Stocktaking and an Assessment NICOLAI J. FOSS and PETER G. KLEIN; 21. The Causes of Institutional Inefficiency: A Development Perspective JEAN- PHILIPPE PLATTEAU; References; Index.
