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theory" and "Institutional economics" very harmful conceptual elements for political discourse. This article proposes to … paradigm in economics, the foundations of which were laid by John Commons, allows us to take another look at the institutions …
Persistent link: https://www.econbiz.de/10011258143
R. Commons by putting the notion of ‘transaction’ in the centre of its study. The seventies were a period of appearance … costs economics’. In this way they have distorted totally the initial design of Commons’ institutional economics who saw the … philosophical foundation of neoclassical economic theory, he based his institutional economics on pragmatist philosophy of Charles S …
Persistent link: https://www.econbiz.de/10011260260
We build a workable game of common-property resource extraction under rational Bayesian learning about the renewal prospects of a resource. We uncover the impact of exogenously shifting the prior beliefs of each player on the response functions of others. What we find about the role of...
Persistent link: https://www.econbiz.de/10008753059
depend on inheritance rules on the commons. Motivated by the traditional management of the commons in the Italian Alps, we … present a model that fits the evolution of property rights observed over six centuries. Women’s rights over the commons were …
Persistent link: https://www.econbiz.de/10011109076
In city districts in Rome, social and economic inequalities between centre and peripheral belts have been increasing over the last years, in parallel to the on-going suburban sprawl. Electoral data from 2000 to 2013 highlight sharp political polarization too. Votes for left-wing (right-wing)...
Persistent link: https://www.econbiz.de/10011111598
The conventional view is that an increase in the value of a natural resource will lead private property to emerge. Many Igbo groups in Nigeria, however, curtailed private rights over palm trees in response to the palm produce trade of the nineteenth and early twentieth centuries. I present a...
Persistent link: https://www.econbiz.de/10009493279
Open source describes practices in production and development that promote access to the end product's source materials, spreading development burden amongst individuals and companies. This model has resulted in a large and efficient ecosystem and unheralded software innovation, freely available...
Persistent link: https://www.econbiz.de/10008534265
Internet growth has allowed unprecedented widespread access to cultural creation including music and films, to knowledge, and to a wide range of consumer information. At the same time, it has become a huge source of business opportunities. Along with great benefits that this access to the...
Persistent link: https://www.econbiz.de/10008534529
The paper compares different auction formats for sale of a single patented innovation for budget constrained bidders. This unit decreases the marginal cost of production in the aftermarket for its owner by an amount which depends on the money invested on the development of this technology. As...
Persistent link: https://www.econbiz.de/10005835499
of financial liberalization affects the saving-investment relationship remains unclear. This paper examines the dynamic … relationship between the domestic saving and investment rates in India by controlling for the level of financial liberalization … resources to be channeled to investment activities. …
Persistent link: https://www.econbiz.de/10005835774