This paper shows the relationships between the mechanisms of decision in politics (harmony versus conflict) and the mechanisms of allocation in economics (hierarchy versus market) by means of ideal types. Under this approach one concludes that the market mechanism in economics and the conflict...

Recently a new approach to political economy has been consolidated. The political analysis of transaction costs is an attempt to solve some of the problems which arise in economic theories of public policy. This paper deals with the notions of transaction costs, institutional efficiency,...

We analyze the behavior of electricity generation groups that make investment and production decisions in a liberalized market scenario by introducing long-term contracts, in a context where there is a high level of market concentration. In this way, a dynamic deterministic model of imperfect...