1,728,981 research outputs found
The new institutional economics
Full text linkThis paper summarizes the potential contributions of the new institutional economics to agricultural policy research, with particular emphasis on developing countries. The paper provides an overview of the new institutional economics and its several branches of thought. It then describes the future challenges facing world agriculture and shows the potential applications of new institutional and transaction costs economics to agricultural policy analysis in this new world environment. The paper concludes by providing specific examples of interest in the area of agricultural market research in developing countries that can be analyzed using the new institutional economics.Institutional economics. ,Agricultural policy Developing countries. ,Research ,
The Foundations of Institutional Economics
No full textThis book is about the foundations of institutional economics
THE SPARTAN SCHOOL OF INSTITUTIONAL ECONOMICS AT MICHIGAN STATE UNIVERSITY
Full text linkHeterodox scholarship at Michigan State University (MSU) was influenced by the institutional economics of John R. Commons at Wisconsin. But it was far from monolithic and had many other sources and originality of its own. A case can be made that the center of institutional economics moved across Lake Michigan from Madison to East Lansing and blossomed in the second half of the 20th century with such Wisconsin Ph.D's as Raleigh Barlowe, Warren Samuels, Allan Schmid, Harry Trebing, and others. Equally important in making MSU a center of institutional economics were scholars from other institutional backgrounds such as Paul Strassmann, economic development; Robert Solo, science and technology; James Shaffer, agricultural marketing and consumer behavior; Nicholas Mercuro, law and economics; and others.Institutional and Behavioral Economics,
Diversification of Institutional Economics
Full text linkIn the article the author intends to provide a selective, yet fairly comprehensive review of historical roots and trends of Institutional Economics. Institutional Economics is not an integrated theory based on a set of common hypotheses, but rather a combination of various elements coming from different traditions and different social sciences. However, despite diversity there is a central tenet of both the 'old' and the 'new' institutionalism: that institutions matter in shaping economic performance and economic behavior. Economic processes do not take place outside of the historical or social context; they take place within given institutions. Th e author attempts to classifying different views concerning these issues and explain how institutional economics relates to neoclassical economics and other social sciences
Veblen, North, and the institutional economics on poverty
No full textThis chapter discusses persistent and poverty-related issues in institutional economics. In institutional economics, the causes of poverty related to the unequal distribution of income and wealth are focused on contingent and diverse institutional factors. A key factor in reducing poverty through growth in economic productivity is the need to create effective economic institutions to appraise and facilitate potential technical and social innovations that underlie improved economic performance. Greater productivity, and perhaps chances for greater equity, should result from a balance between (a) flexible, adaptive institutional structures that comprehensively evaluate, and appropriately innovate to reduce production and transaction costs, and (b) a stable but appropriate informal institutional environment where social values and meaning support real growth in economic welfare.No Full Tex
Individuality and habits in institutional economics
No full textIn this paper a sophisticated conception of individuality is developed that extends beyond simple heterogeneity and is consistent with the approach of institutional economics. Studies of human biological and psychological development are used to illustrate the foundations of human individuality and the impact of the social environment on individual development. The link between the social environment and ongoing agential properties is established through the role of habits, which provide some continuity to individual personalities over time and assist them in navigating the social context they inhabit. Reflexivity is established via an agency-structure framework that endows individuals a changeable self-concept and an ability to interpret their relationship to the social context. The coordination of different individuals is explained not simply through reference to institutional structure, but also through the agent-level properties of shared habits. While reducing differences between individuals to one of degrees, shared habits are shown to be particularly important in the context of agent-sensitive institutions. Finally, the potential for different institutional experiences to impact the reflexivity of individuals is explored
THE ROLE OF LAND RIGHTS IN URBAN HERITAGE MANAGEMENT – THE EXPLANATORY POWER OF INSTITUTIONAL ECONOMICS ANALYSIS IN THE RECONSTRUCTION OF CULTURAL HERITAGE OF KOTAGEDE YOGYAKARTA, INDONESIA’S POST EARTHQUAKE
Full text linkThis paper discusses the importance of land rights in providing ways and means for the improvement and preservation of urban heritage cultural values in Yogyakarta. The use of comprehensive institutional approach considers actors’ behavior within their informal institutions in the reconstruction of cultural heritage post earthquake. Discussion focuses on the way landowners may constrains or enabling the reconstruction process. Interviews conducted with selected landowners indicated the way in which land rights impede the urban cultural heritage reconstruction. In the end, it shows how institutional economics analysis explains the role of land rights in the improvement of cultural heritage in Yogyakarta, Indonesia.land rights, cultural heritage, institutional economics analysis
On pragmatist institutional economics
Full text linkThe movement of New Institutional Economics (NIE), born in the seventies, followed the Institutional Economics of John R. Commons by putting the notion of ‘transaction’ in the centre of its study. The seventies were a period of appearance of an absolute authority of neoclassical economics with its hypothetic-deductive (Cartesian and positivist) methodology and the NIE followed this methodology. The NIE was assimilated by many of the members of its community with ‘transaction costs economics’. In this way they have distorted totally the initial design of Commons’ institutional economics who saw the transaction as a unit of activity common to law, economics and ethics. Instead of Cartesian analytic philosophy, which is the philosophical foundation of neoclassical economic theory, he based his institutional economics on pragmatist philosophy of Charles S. Peirce and John Dewey. As Philip Mirowski has noted “these two traditions have a profound conflict over their respective images of a ‘science’, and therefore profoundly incompatible images of ‘economic man’ and ‘rationality’” (Mirowski, 1987). Commons used the pragmatism as a model of human behaviour and as a method of research. The paper discusses the pragmatist methodology and techniques from an institutional economist point of view. It is based on a personal experience of the author in application of these methodology and techniques for economic institutional investigations. This paper is an appeal to economists to adopt the pragmatist method. This method, in its modern form related to social sciences, is Qualitative Research. It is called ‘qualitative research’ because it deals with primarily qualitative data but its most important characteristic is its affiliation to the pragmatist paradigm
New institutional economics: a guidebook
No full textTwenty-one papers explore the accomplishments, limitations, and unmet needs of the field of new institutional economics. Papers discuss the theories of the firm; contracts--from bilateral sets of incentives to the multilevel governance of relations; institutions and the institutional environment; human nature and institutional analysis; the "case" for case studies in new institutional economics; new institutional econometrics--the case of research on contracting and organization; experimental methodology to inform new institutional economics issues; game theory and institutions; new institutional economics, organization, and strategy; interfirm alliances--a new institutional economics approach; governance structure and contractual design in retail chains; make-or-buy decisions--a new institutional economics approach; transaction costs, property rights, and the tools of the new institutional economics--water rights and water markets; contracting and organization in food and agriculture; buying, lobbying, or suing--interest groups' participation in policy making--a selective survey; regulation and deregulation in network industry; constitutional political economy--analyzing formal institutions at the most elementary level; new institutional economics and its application on transition and developing economies; law and economics in retrospect; the theory of the firm and its critics--a stocktaking and assessment; and the causes of institutional inefficiency--a development perspective. Brousseau is Professor of Economics at the University of Paris X and Director of EconomiX. Glachant is Professor of Economics and Head of the Electricity Reforms Group in the ADIS Research Center at the University of Paris-Sud XI. Index
The Growth and Decay of Custom: The Role of the New Institutional Economics in Economic History
Full text linkCustoms and institutions affect and are affected by economic relations and processes. The two-way interaction is particularly important in studying history where the scale of the temporal canvas ensures that very few variables can be treated as parametric. This paper assesses the methodology which attempts the task. In particular it examines the problem of endogenizing customs, evaluates claims for the optimality of institutions, and also comments on the interplay between structural and inertial forces. Recent work in the new institutional economics stresses structural forces, while traditional history emphasizes inertial forces, but on closer analysis these are shown to be complementary.New institutional economics, inertia, optimality of institutions, Alfred Marshall, data of analysis
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