The future of new institutional economics: from early intuitions to a new paradigm?

• Published in: Journal of institutional economics Vol. 10; no. 4; pp. 541 - 565
• Main Authors: MÉNARD, CLAUDE, SHIRLEY, MARY M.
• Format: Journal Article
• Language: English
• Published: Cambridge, UK Cambridge University Press 01.12.2014; Cambridge University Press (CUP)
• Subjects: Costs; Economics; Economics and Finance; Humanities and Social Sciences; Institutionalization; Interdisciplinary aspects; Property rights; Schools; Social sciences; Traditions; paradigm

The trajectory of institutional economics changed in the 1970s when new institutional economics (NIE) began to take shape around some relative vague intuitions which eventually developed into powerful conceptual and analytical tools. The emergence of NIE is a success story by many measures: four Nob...