Advanced Introduction to New Institutional Economics

Elgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences, business and law, expertly written by the world‚Äôs leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas.New institutional economics (NIE) is a powerful tool for understanding real world phenomena. This Advanced Introduction explores NIE’s answers to fundamental questions about the organization, growth and development of economies, such as why are some countries rich and others poor? Why are activities organized as firms or markets or through alternative organizational solutions? When are shared resources overexploited? Key Features:Elucidates the essence of NIE’s main branches, focusing on thegovernance of transactions and organizations (identified with OliverWilliamson), the fundamental institutional environment (DouglassNorth), and the role of communal institutions and collective action (ElinorOstrom)Explores how NIE has transformed perspectives on collective action, stateand legal institutions, public policy and regulation, and economic growthExtensive references to allow interested readers to dive deeper into specific topicsAuthored by scholars associated early on with leading figures in NIE and the development of NIE’s research agenda.This Advanced Introduction is an ideal read for advanced students of economics, political science, management, law and sociology interested in learning about new institutional economics. Policy makers, especially those responsible for business and utility regulation and development policy and assistance, will also benefit from this concise yet detailed book.