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The Economics of Institutions

The International Library of Critical Writings in Economics series
Edited by Geoffrey M. Hodgson, Research Professor in Business Studies, University of Hertfordshire, UK
The Economics of Institutions is a collection of key essays in the field of both ‘new’ and ‘old’ institutional economics.
Extent: 640 pp
Hardback Price: £213.00 Online: £191.70
Publication Date: 1993
ISBN: 978 1 85278 764 6
Availability: In Stock
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  • Economics and Finance
  • Evolutionary Economics
  • Institutional Economics
The Economics of Institutions is a collection of key essays in the field of both ‘new’ and ‘old’ institutional economics. Featuring articles from the most important scholars in this field, it covers: individuals, institutions and institutionalism; rules and norms; institutions, knowledge and uncertainty; institutional change and economic growth, and markets and firms as institutions.
Contributors include: G. Dosi, A.J. Field, P. Mirowski, V. Vanberg, W.T. Waller
CONTENTS

PART 1

INDIVIDUALS, INSTITUTIONS AND INSTITUTIONALISM

1. Walton H. Hamilton (1932), ‘Institution’
2. Williams T. Waller, Jr. (1988), ‘The Concept of Habit in Economic Analysis’
3. Viktor Vanberg (1989), ‘Carl Menger’s Evolutionary and John R. Commons’ Collective Action Approach to Institutions: A Comparison’
4. Geoffrey M. Hodgson (1993), ‘Institutional Economics: Surveying the “Old” and the “New”’

PART 2

INSTITUTIONS AND MODERN ECONOMICS

5. Alexander James Field (1979), ‘On the Explanation of Rules Using Rational Choice Models’
6. Philip Mirowski (1986), ‘Institutional as a Solution Concept in a Game Theory Context’
7. Fabrizio Coricelli and Giovanni Dosi (1988), ‘Coordination and Order in Economic Change and the Interpretative Power of Economic Theory’
8. David P Ellerman (1991), ‘Myth and Metaphor in Orthodox Economics’
9. Philip Mirowski (1991), ‘Postmodernism and the Social Theory of Value’

PART 3

RULES AND NORMS

10. Alexander James Field (1984), ‘Microeconomics, Norms, and Rationality’
11. Robert Axelrod (1986), ‘An Evolutionary Approach to Norms’
12. Viktor Vanberg (1988), ‘Rules and Choice in Economics and Sociology’
13. Jon Elster (1989), ‘Social Norms and Economic Theory’
14. Herbet A. Simon (1990), ‘A Mechanism for Social Selection and Successful Altruism’

PART 4

INSTITUTIONS, KNOWLEDGE AND UNCERTAINTY

15. Geoffrey Newman (1976), ‘An Institutional Perspective on Information’
16. Lawrence A. Boland (1979), ‘Knowledge and the Role of Institutions in Economic Theory’
17. Ronald A. Heiner (1983), ‘The Origin of Predictable Behavior’

PART 5

MARKETS AND FIRMS AS INSTITUTIONS

18. Hans G. Nutzinger (1976), ‘The Firm as a Social Institution: The Failure of the Contractarian Viewpoint’
19. Giovanni Dosi (1988), ‘Institutions and Markets in a Dynamic World’
20. Richard N. Langlois (1988), ‘Economic Change and the Boundaries of the Firm’
21. Ugo Pagano (1991), ‘Property Rights, Asset Specificity and the Division of Labour under Alternative Capitalist Relations’
22. Ugo Pagano (1992), ‘Authority, Co-Ordination and Disequilibrium: An Explanation of the Co-Existence of Markets and Firms’

PART 6

INSTITUTIONAL CHANGE AND ECONOMIC GROWTH

23. William T. Waller, Jr. (1982), ‘The Evolution of the Veblenian Dichotomy: Veblen, Hamilton, Ayres and Foster’
24. Paul D. Bush (1987), ‘The Theory of Institutional Change’
25. Brian R .Binger and Elizabeth Hoffman (1989), ‘Institutional Persistence and Change: The Question of Efficiency’
26. Geoff Hodgson (1989), ‘Institutional Rigidities and Economic Growth’
27. Ulrich Witt (1989), ‘The Evolution of Economic Institutions as a Propagation Process’