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New Institutional Economics
A Guidebook

$72.00 (P)

Oliver E. Williamson, Eric Brousseau, Jean-Michel Glachant, Paul L. Joskow, PIERRE GARROUSTE, STEPHANE SAUSSIER, JOHN NYE, BENITO ARRUNADA, LEE J. ALSTON, MICHAEL E. SYKUTA, STEPHANE ROBIN, CARINE STAROPOLI, THIERRY PENARD, JACKSON NICKERSON, LYDA BIGELOW, JOANNE E. OXLEY, BRIAN S. SILVERMAN, EMMANUEL RAYNAUD, MANUEL GONZALEZ-Diaz, LUIS VAZQUEZ, GARY D. LIBECAP, MICHAEL L. COOK, PETER G. KLEIN, CONSTANTINE ILIOPOULOS, PABLO T. SPILLER, SANNY LIAO, YANNICK PEREZ, STEFAN VOIGT, SONJA OPPER, ANTONIO NICITA, UGO PAGANO, NICOLAI J. FOSS, JEAN- PHILIPPE PLATTEAU
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  • Date Published: September 2008
  • availability: In stock
  • format: Paperback
  • isbn: 9780521700160

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  • Institutions frame behaviors and exchanges in markets, business networks, communities, and organizations throughout the world. Thanks to the pioneering work of Ronald Coase, Douglas North and Olivier Williamson, institutions are now recognized as being a key factor in explaining differences in performance between industries, nations, and regions. The fast-growing field of new institutional economics analyzes the economics of institutions and organizations using methodologies, concepts, and analytical tools from a wide range of disciplines (including political science, anthropology, sociology, management, law, and economics). With contributions from an international team of researchers, New Institutional Economics provides theoreticians, practitioners, and advanced students in economics and social sciences with a guide to the many recent developments in the field. It explains the underlying methodologies, identifies issues and questions for future research, and shows how results apply to decision making in law, economic policy, management, regulation and institutional design.

    • Provides a concise introduction to the rapidly expanding literature on New Institutional Economics
    • Shows how New Institutional Economics can be applied to decision making in law, economic policy, management, regulation and institutional design
    • Covers one of the most vibrant and fashionable sub-disciplines in modern economics
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    Reviews & endorsements

    'The New Institutional Economics is an exciting and active research field, and a comprehensive guide to its achievements and future prospects has been long overdue. This book admirably fills this need. Chapters written by experts in various subfields are complemented by excellent commentaries by Oliver Williamson and the editors. New entrants to the field can use it almost as a textbook; practitioners will use it to reinforce their knowledge and as a great reference tool.' Avinash Dixit, John J. F. Sherrerd '52 University Professor of Economics, Princeton University

    'This guide offers the reader a tour de force through the ramifications of the new institutional economics. It is a reference not only for those scholars who find their roots in transaction cost theories but for all those addressing institutional analysis.' Giovanni Dosi, Professor of Economics, Sant'Anna School of Advanced Studies, Pisa

    'Eric Brousseau and Jean-Michel Glachant's New Institutional Economics: A Guidebook provides a highly readable 'road map' to the varied contributions of the New Institutional Economics. That eclectic stream of research, principally based on transaction costs, property rights, and agency theory, takes an applied perspective to understand how institutions work in the real world. Hence this literature is of immediate interest to strategy and international business scholars. This book, with chapters on organization and strategy, the theory of the firm, transition economies, franchising, make-or-buy decisions, and inter-firm alliances, among others, offers a wealth of fresh and provocative ideas from this emerging literature that are eminently useful to scholars in international business and strategy.' Jean-Francois Hennart, Professor of International Management, Tilburg University

    'New Institutional Economics (NIE) has been one of the most successful fields of applied economics, and its contributions have been far-reaching, methodologically and substantively. Methodologically, NIE has developed valuable intersections with other fields in economics, including game-theory, law and economics, public choice and constitutional political economy, industrial organization, managerial economics, and development economics. Substantively, the applications of NIE span through many disciplines, ranging from law to politics, to institutional design, to contracting and business organization. This book is a testament to the growing success of NIE and a valuable guide to its literature for both insiders and outsiders to the field.' Francesco Parisi, Professor of Law, University of Minnesota Law School, and Professor of Public Finance, University of Bologna

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    Product details

    • Date Published: September 2008
    • format: Paperback
    • isbn: 9780521700160
    • length: 608 pages
    • dimensions: 229 x 153 x 30 mm
    • weight: 0.97kg
    • contains: 8 tables
    • availability: In stock
  • Table of Contents

    List of figures
    List of tables
    List of contributors
    Acknowledgments
    Foreword Oliver E. Williamson
    A Road Map for the Guidebook Eric Brousseau and Jean-Michel Glachant
    Introductory Chapter - New Institutional Economics: a Report Card Paul L. Joskow
    Part I. Foundations:
    1. The Theories of the Firm PIERRE GARROUSTE and STEPHANE SAUSSIER
    2. Contracts: From Bilateral Sets of Incentives to the Multi-Level Governance of Relations ERIC BROUSSEAU
    3. Institutions and the Institutional Environment JOHN NYE
    4. Human nature and institutional analysis BENITO ARRUNADA
    Part II. Methodology:
    5. The 'Case' for Case Studies in the New Institutional Economics LEE J. ALSTON
    6. New Institutional Econometrics: The Case of Research on Contracting and Organization MICHAEL E. SYKUTA
    7. Experimental methodology to inform New Institutional Economics Issues STEPHANE ROBIN and CARINE STAROPOLI
    8. Game Theory and Institutions THIERRY PENARD
    Part III. Strategy and Management:
    9. New-Institutional Economics, Organization and Strategy JACKSON NICKERSON and LYDA BIGELOW
    10. Inter-firm Alliances: A New Institutional Economics Approach JOANNE E. OXLEY and BRIAN S. SILVERMAN
    11. Governance Structure and Contractual Design in Retail Chains EMMANUEL RAYNAUD
    Part IV. Industrial Organization:
    12. Make or buy decisions: a NIE approach MANUEL GONZALEZ-Diaz and LUIS VAZQUEZ
    13. Transaction Costs, Property Rights, and the Tools of the New Institutional Economics: Water Rights and Water Markets GARY D. LIBECAP
    14. Contracting and Organization in Food and Agriculture MICHAEL L. COOK, PETER G. KLEIN and CONSTANTINE ILIOPOULOS
    Part V. Institutional Design:
    15. Buy, lobby or sue: interest group participation in policy making – a selective survey PABLO T. SPILLER and SANNY LIAO
    16. Regulation and Deregulation in network industry JEAN-Michel GLACHANT and YANNICK PEREZ
    17. Constitutional Political Economy – Analyzing the most basic layer of formal institutions STEFAN VOIGT
    18. New Institutional Economics and its Application on Transition and Developing Economies SONJA OPPER
    Part VI. Challenges to Institutional Analysis:
    19. Law and Economics in Retrospect ANTONIO NICITA and UGO PAGANO
    20. The Theory of the Firm and Its Critics: a Stocktaking and an Assessment NICOLAI J. FOSS and PETER G. KLEIN
    21. The Causes of Institutional Inefficiency: A Development Perspective JEAN- PHILIPPE PLATTEAU
    References
    Index.

  • Instructors have used or reviewed this title for the following courses

    • Political Economy of Local Institutions
  • Editors

    Éric Brousseau, Université de Paris IX (Paris-Dauphine)
    Eric Brousseau is Professor of Economics at the University of Paris X and Director of EconomiX, a research center jointly operated by the University of Paris X and the CNRS (French National Science Foundation).

    Jean-Michel Glachant, Université de Paris XII
    Jean-Michel Glachant is Professor of Economics and Head of the Electricity Reforms Group in the ADIS research center, University of Paris-Sud XI.

    Contributors

    Oliver E. Williamson, Eric Brousseau, Jean-Michel Glachant, Paul L. Joskow, PIERRE GARROUSTE, STEPHANE SAUSSIER, JOHN NYE, BENITO ARRUNADA, LEE J. ALSTON, MICHAEL E. SYKUTA, STEPHANE ROBIN, CARINE STAROPOLI, THIERRY PENARD, JACKSON NICKERSON, LYDA BIGELOW, JOANNE E. OXLEY, BRIAN S. SILVERMAN, EMMANUEL RAYNAUD, MANUEL GONZALEZ-Diaz, LUIS VAZQUEZ, GARY D. LIBECAP, MICHAEL L. COOK, PETER G. KLEIN, CONSTANTINE ILIOPOULOS, PABLO T. SPILLER, SANNY LIAO, YANNICK PEREZ, STEFAN VOIGT, SONJA OPPER, ANTONIO NICITA, UGO PAGANO, NICOLAI J. FOSS, JEAN- PHILIPPE PLATTEAU

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