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Author Furubotn, Eirik Grundtvig, 1923-

Title Institutions and economic theory : the contribution of the new institutional economics / Eirik G. Furubotn and Rudolf Richter
Published Ann Arbor : University of Michigan Press, [1997]


Location Call no. Vol. Availability
Description xv, 542 pages : illustrations ; 24 cm
Series Economics, cognition, and society
Economics, cognition, and society.
Contents Ch. 1. Introductory Observations -- Ch. 2. Transaction Costs -- Ch. 3. Absolute Property Rights: Ownership of Physical Objects -- Ch. 4. Relative Property Rights: Contractual Obligations -- Ch. 5. Contract Theory -- Ch. 6. The New Institutional Economics Applied to Markets, Firms, and the State: General Remarks -- Ch. 7. The New Institutional Economics of the Market -- Ch. 8. The New Institutional Economics of the Firm -- Ch. 9. The New Institutional Economics of the State -- Ch. 10. Future Development of the New Institutional Economics
Summary 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
Bibliography Includes bibliographical references (pages 483-524) and indexes
Notes Translated from the German
Subject Institutional economics.
Author Richter, Rudolf, 1926-
LC no. 97030103
ISBN 0472108174 cloth acid-free paper
0472086804 paperback
Other Titles Neue Institutionenökonomik. English