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| Author: | Frey, B. S. |
| Title: | An economic analysis of the new institutional economics. |
| Journal: | Journal of Institutional and Theoretical Economics
1993 : MAR, VOL. 149:1, p. 351-359 |
| Index terms: | INSTITUTIONAL ECONOMICS ECONOMIC ANALYSIS |
| Language: | eng |
| Abstract: | The author claims that the New Institutional Economics is at present of quite restricted importance in economics and that only a specific abstract version is likely to gain acceptance in the international market for economics. Two types of markets for academics are distinguished a competitive C-market and a restricted R-market, which results in deriving 6 empirically testable propositions about the present state and the likely future development of the New Institutional Economics. In the emerging market for academic economists institutions are studied under a unified approach, characterized by abstract theorizing. Concrete institutional research is carried out rather on the edges of economics and the neighbouring social sciences than in departments of economics. |
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