Mathematical Institutional Economics

Mathematical Institutional Economics

An overview is given of the utilization of strategic market games in the development of a game theory based theory of money and financial institutions. JEL Classifications: C72, C73, E44

Theoretical Integration of New Institutional Economics

The purpose of this study is to investigate the theoretical integration or eclecticism of New Institutional Economics (NIE) on the basis of the four-stage Tillings model. The first step demonstrates that the new institutionalists, as to confront the hegemonic scientific mainstream, stated that their goal was to moderate neoclassical assumptions, but in fact, their main goal was to expand and st...

New Institutional Economics

This chapter surveys the new institutional economics, a rapidly growing literature combining economics, law, organization theory, political science, sociology and anthropology to understand social, political and commercial institutions. This literature tries to explain what institutions are, how they arise, what purposes they serve, how they change and how they may be reformed. Following conven...

Reclaiming Habit for Institutional Economics

This paper reviews the concept of habit and its relation to institutions. The following questions are addressed: What are habits? Why have they evolved? How do institutions affect them? And what are some of the implications for economic analysis? It is argued that the early pragmatist and institutionalist though of William James, John Dewey and Thorstein Veblen remains a useful guide in this ar...

Mathematical Models in Economics