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Recent Developments in Institutional Economics

Critical Studies in Economic Institutions series
Edited by Geoffrey M. Hodgson, Research Professor in Business Studies, University of Hertfordshire, UK
This title is a definitive collection of readings showing both changes in the research agenda and new developments at the cutting edge. It is an ideal reference source for students and researchers in the fields of economics, sociology, business and other related disciplines.
Extent: 640 pp
Hardback Price: £180.00 Online: £162.00
Publication Date: 2003
ISBN: 978 1 84064 885 0
Availability: In Stock
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  • Economics and Finance
  • Institutional Economics
The re-emergence of institutional economics in the final quarter of the twentieth century is one of the most important and fruitful developments in social science. In bringing together some of the most significant previously published papers by leading scholars in the field, this authoritative collection explores the major changes in the ‘new’ and ‘old’ institutional economics, the developments of new approaches and the extension of applications to new areas which have taken place since the early 1990s.

This volume is a definitive collection of readings showing both changes in the research agenda and new developments at the cutting edge. It is an ideal reference source for students and researchers in the fields of economics, sociology, business and other related disciplines.
‘This valuable collection provides a detailed look at recent developments in institutional economics. The essays pay due attention to both the old and the new institutional traditions and show that there is potential for a synthesis between them.’
– Ferudun Yilmaz, Review of Political Economy

‘For more light on the issues, one should certainly read the brilliant introduction and the articles in the volume.’
– Bhanoji Rao, Global Business Review
26 articles, dating from 1991 to 2001
Contributors include: M. Aoki, S. Bowles, G. Dosi, B.J. Loasby, P. Mirowski, R.R. Nelson, D.C. North, M. Rutherford, O.E. Williamson
Contents:
Acknowledgements
Introduction Geoffrey M. Hodgson
PART I THREE OVERVIEWS
1. Malcolm Rutherford (2001), ‘Institutional Economics: Then and Now’
2. Richard R. Nelson and Bhaven N. Sampat (2001), ‘Making Sense of Institutions as a Factor Shaping Economic Performance’
3. J. Rogers Hollingsworth (2000), ‘Doing Institutional Analysis: Implications for the Study of Innovations’
PART II METHODOLOGY, INSTITUTIONS AND INDIVIDUALS
4. Ekkehart Schlicht (1998), ‘The Texture of Custom’
5. Samuel Bowles (1998), ‘Endogenous Preferences: The Cultural Consequences of Markets and Other Economic Institutions’
6. Geoffrey M. Hodgson (1998), ‘The Approach of Institutional Economics’
PART III THE CHANGING NEW INSTITUTIONAL ECONOMICS
7. Douglass C. North (1991), ‘Institutions’
8. Jack Knight (1992), ‘Introduction’
9. Arthur T. Denzau and Douglass C. North (1994), ‘Shared Mental Models: Ideologies and Institutions’
10. Avner Greif (1998), ‘Historical and Comparative Institutional Analysis’
11. Peter Howitt and Robert Clower (2000), ‘The Emergence of Economic Organization’
12. Oliver E. Williamson (2000), ‘The New Institutional Economics: Taking Stock, Looking Ahead’
13. Masahiko Aoki (2001), ‘What are Institutions? How Should We Approach Them?’
PART IV HABITS, NORMS AND KNOWLEDGE
14. David Lane, Franco Malerba, Robert Maxfield and Luigi Orsenigo (1996), ‘Choice and Action’
15. Andy Clark (1997), ‘Economic Reason: The Interplay of Individual Learning and External Structure’
16. Geoffrey M. Hodgson (1997), ‘The Ubiquity of Habits and Rules’
17. Paul Twomey (1998), ‘Reviving Veblenian Economic Psychology’
18. Giovanni Dosi, Luigi Marengo, Andrea Bassanini and Marco Valente (1999), ‘Norms as Emergent Properties of Adaptive Learning: The Case of Economic Routines’
19. Richard N. Langlois (2001), ‘Knowledge, Consumption, and Endogenous Growth’
20. Jason Potts (2001), ‘Knowledge and Markets’
PART V PROPERTY, MONEY AND THE STATE
21. Itai Sened (1997), ‘Conclusion: The Political Origin of Human Rights’
22. Gunnar Heinsohn and Otto Steiger (2000), ‘The Property Theory of Interest and Money’
23. Stephanie Bell (2001), ‘The Role of the State and the Hierarchy of Money’
PART VI MARKETS AS INSTITUTIONS
24. Dhananjay K. Gode and Shyam Sunder (1993), ‘Allocative Efficiency of Markets with Zero-Intelligence Traders: Market as a Partial Substitute for Individual Rationality’
25. Philip Mirowski and Koye Somefun (1998), ‘Markets as Evolving Computational Entities’
26. Brian J. Loasby (2000), ‘Market Institutions and Economic Evolution’
Name Index