Is it possible to constrain a human society in such a way that self-organization will thereafter tend to produce outcomes that advance the goals of the society? Such a society would be self-organizing in the sense that individuals who pursue only their own interests would none-the-less act in...

The methodological article considers the theoretical and practical aspects of the formation of economic dysfunction in the process of economy's reforming. This article attempts to classify the factors of dysfunctions in detail of basic directions to overcome dysfunctions in economic development....

English Abstract: In the last four decades there is a renewed interest within the economic theory for the institutional structures. Numerous, multiple and often unpredictable effects of institutions on economic process are differently reflected among the leading schools of economic analysis....

Economic behavior strives for efficiency. Therefore, also evolving network structures should be a result of such a goal-oriented behavior. Traditionally, networks were assumed to be only temporary phenomena, since the prevailing organizational forms that comply with the efficiency postulate are...

To study the effect of political and institutional changes on the economy, we look at share prices in the Santiago exchange during the tumultuous political events that characterized Chile in the early 1970s. We use a transparent empirical strategy, deploying previously unused daily data and...

A country's political and economic institutions are critical for economic prosperity. The literature abounds with institutional measures, precisely because institutions are not one dimensional. We use panel-unit-root and cointegration tests to examine the time-series properties of several...

The standard political economy narrative of representative assemblies in Western Europe is one of political bargaining and credible commitments. Monarchs sought to bargain with the leading men of the realms, exchanging their commitments on various policies for revenues and other resources. This...

The New Institutional Economics (NIE) has its early roots in Cliometrics. Cliometrics began with a focus on using neoclassical theory to develop and test hypotheses in economic history. But empirical consideration of economic and political development within and across countries is limited,...

Bitcoin is the most successful cryptocurrency and one of the best types of private money ever. The blockchain technology underlying bitcoin is presented with the spotlight on distributed consensus, allowing for proper understanding of its peculiarities. Notarization and trust anchoring are...