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I discuss Aoki's fundamental model of institutions in its most recent version, building on a comment that Aoki contributed to a paper by Hindriks and Guala in 2015. These authors advance a ‘rules in equilibrium' approach to institutions that claims to reduce a Searlian social ontology of...
Persistent link: https://www.econbiz.de/10012999665
Ronald Coase merged two traditions in economics, marginalism and institutionalism. Neoclassical economics in the 1930s … is outside the mainstream, but they have found new energy with the rise of behavioral economics and socio-economics. The … and economics. First, it recognized marginalism and the conception of the rational actor as central to economic analysis …
Persistent link: https://www.econbiz.de/10014198928
This article presents a comparative analysis of the approaches of institutional economics and Walrasian economics …. After reviewing the differences between both perspectives, it argues that institutional economics is an alternative, however … incomplete, to general equilibrium economics. It compares the way both tendencies conceive the individual, knowledge, efficiency …
Persistent link: https://www.econbiz.de/10014075389
This paper explores some ontological and epistemological conditions of the emergence of the Veblenian system of political economy. For that, we refer to Foucault's archaeology of political economy, since it offers insights into some of the relations that help us to understand the underlying...
Persistent link: https://www.econbiz.de/10011864978
Persistent link: https://www.econbiz.de/10003862934
Robert Neild (born 1924) has made a major contribution to economics and to peace studies. This paper provides a brief … attention to his largely-unnoticed contributions to institutional and evolutionary economics since 1984. These are important in …
Persistent link: https://www.econbiz.de/10012944789
, Geoff Hodgson has made many path-breaking contributions to institutional economics, evolutionary economics, economic … Institutional Economics has expanded the opportunities for constructive dialogue among social scientists. To celebrate Hodgon …
Persistent link: https://www.econbiz.de/10012866139
This paper explores Lawrence Kelso Frank's contribution to the evolution of the so called Veblenian dichotomy. According to this apprach, peculiar to the institutional framework of every economic system is an absolute and irreconcilable tension between the dynamic and progressive force of...
Persistent link: https://www.econbiz.de/10014074578
This paper explores the evolution of the psychological foundation of institutional economics between the early XXc and … neoclassical economics then only at its infancy. In this debate we show how instinct theory came to be applied to the field now as … economics and the different impact which it gained also within neoclassical economists. This paper particularly dwells upon the …
Persistent link: https://www.econbiz.de/10014075897
How effective institutions come about and how they change are fundamental questions for economics and social science …
Persistent link: https://www.econbiz.de/10014133038