Frontiers of the New Institutional Economics / Edition 1

Frontiers of the New Institutional Economics / Edition 1

by John Nye John Drobak, John V. C. Nye
     
 

ISBN-10: 0122222407

ISBN-13: 9780122222405

Pub. Date: 02/20/1997

Publisher: Emerald Group Pub Ltd

The New Institutional Economics incorporates a theory of institutions into economics. It builds upon the fundamental assumptions of scarcity and competition but abandons institutional rationality. Consequently, NIE assumes that individuals make choices based on incomplete information and limited mental capacity, forming institutions to reduce uncertainty in human…  See more details below

Overview

The New Institutional Economics incorporates a theory of institutions into economics. It builds upon the fundamental assumptions of scarcity and competition but abandons institutional rationality. Consequently, NIE assumes that individuals make choices based on incomplete information and limited mental capacity, forming institutions to reduce uncertainty in human exchange. These insights have implications for technological change, property rights, and public choice. The Frontiers of the New Institutional Economics presents new essays written specifically for this volume. These essays Provide an introduction to the nature and practice of the New Institutional Economics, with a special emphasis on economic history and political economy. Among the contributors are Nobel Prize winners Douglass North and Robert Fogel.

Key Features
* Contains essays by Nobel Prize winners Douglass North and Robert Fogel
* Presents a field of economics useful to students of political science and sociology.
* Applicable to studies of technological change, property rights, and public choice

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Product Details

ISBN-13:
9780122222405
Publisher:
Emerald Group Pub Ltd
Publication date:
02/20/1997
Pages:
374
Product dimensions:
6.01(w) x 8.95(h) x 0.73(d)

Table of Contents

Contributors
Preface
Introduction
IPrologue3
IIDouglass C. North and Economic Theory13
IIIThe Political Economy of Warfare and Taxation in Early Modern Europe: Historical Lessons for Economic Development31
IVOn the Interrelations and Economic Implications of Economic, Social, Political, and Normative Factors: Reflections from Two Late Medieval Societies57
VCultural Values, Ideological Beliefs, and Changing Labor Institutions: Notes on Their Interactions95
VIThinking about the State: Property Rights, Trade, and Changing Contractual Arrangements in a World with Coercion121
VIIViolence and the Development of Property Rights to Land in the Brazilian Amazon145
VIIIChanging Property Rights: Reconciling Formal and Informal Rights to Land in Africa165
IXIntertemporal Institutions197
XThe Political Foundations of Limited Government: Parliament and Sovereign Debt in 17th- and 18th-Century England213
XICredible Commitment in the United States: Substantive and Structural Limits on the Avoidance of Public Debt247
XIIEconomic Reason: The Interplay of Individual Learning and External Structure269
XIIIBeyond Rational Expectations: Indeterminacy in Economic and Financial Markets291
XIVMaking Use of Treacherous Advice: Cognitive Process, Bayesian Adaptation, and the Tenacity of Unreliable Knowledge305
Index367

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