Institutional Change and Economic Behaviour

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This book explores institutional change and economic behaviour through examining the transition process in the eight former socialist countries that became members of the EU in 2004, looking at the phenomenal growth that has been taking place in China in the last three decades, offering a historical perspective on the causes of economic underdevelopment in the Middle East, and discussing just how much of the neo-classical paradigm is refuted by the evidence produced by experimental economics in recent years. In ...

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Overview

This book explores institutional change and economic behaviour through examining the transition process in the eight former socialist countries that became members of the EU in 2004, looking at the phenomenal growth that has been taking place in China in the last three decades, offering a historical perspective on the causes of economic underdevelopment in the Middle East, and discussing just how much of the neo-classical paradigm is refuted by the evidence produced by experimental economics in recent years. In addition, a conceptual framework is proposed for analyzing mechanisms of institutional change,and an evolutionary model and agent-based model are developed.

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Product Details

  • ISBN-13: 9780230546981
  • Publisher: Palgrave Macmillan
  • Publication date: 4/1/2008
  • Series: International Economic Association Series
  • Edition description: First Edition
  • Pages: 288
  • Product dimensions: 5.60 (w) x 8.27 (h) x 0.77 (d)

Meet the Author

János Kornai is President of the International Economic Association and is affiliated with the University of Budapest, Hungary. László Mátyás is with Central European University, Hungary. Gérard Roland is Professor of Economics and Political Science, University of California, Berkeley.

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Table of Contents

Introduction—J.Kornai, L.Mátyás & G.Roland
• The Great Transformation of Central-Eastern Europe: Success and Disappointment—J.Kornai
• Transformation in China—Y.Qian & J.Wu
• Institutional Causes of Economic Underdevelopment in the Middle East: An Historical Perspective—T.Kuran
• Understanding the Great Changes in the World: Gaining Ground and Losing Ground since World War II—E.S.Phelps
• The Schumpeterian Approach to Education and Growth—P.Aghion
• Analyzing Institutional Change—M.Aoki
• Fast-Moving and Slow-Moving Institutions—G.Roland
• The Endowment Effect and the Origin of Private Property—H.Gintis
• The Complex Evolution of a Simple Traffic Convention: The Functions and Implications of Habit—G.M.Hodgson & T.Knudsen
• Implications of Behavioural Game Theory for Neoclassical Economic Theory—H.Gintis
• A Little Behavioralism Can Go a Long Way—K.Binmore & J.Swierzbinski

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