This paper is motivated by the remark of Coase (1988, p. 7) that "although economists claim to study the working of the market, in modern economic theory the market itself has an even more shadowy role than the firm." It is argued that under conditions of positive transaction costs, incomplete...

This article first describes the history of the use of the term 'new institutional economics' (NIE) since its introduction by Oliver Williamson. It shows how the term has evolved from a generic term to a standard term on the basis of NIE conference publications and collective volumes that...

This paper deals with similarities and differences between new economic sociology (NES) and new institutional economics (NIE). We start with brief reports on the basic ideas of NES and NIE. Regarding the latter, we concentrate on NIE in the sense of Oliver Williamson who introduced the term and...

The central idea of this book is the concept of a currency order. Monetary theory is developed as a theory of currency orders. The book expands the neoclassical theory of currency orders. This new way of looking at the problems permits a general view of the subject matter of monetary theory and...

Inhalts}bersicht: Einige elementare Õberlegungen. - Das Marktgleichgewicht f}r ein Gut. - Volkswirtschaftliche Gesamtrechnung. - Das Grundmodell der Besch{ftigungstheorie: Allgemeine Õberlegungen. - Arbeitsmarkt. - G}termarkt. - Geldmarkt. - Das Grundmodell der Besch{ftigungstheorie: Spezielle...