New Institutional Economics
A Guidebook

A guide to the latest developments in new institutional economics, an exciting and fast-growing branch of economics.

Éric Brousseau (Edited by), Jean-Michel Glachant (Edited by)

9780521876605, Cambridge University Press

Hardback, published 4 September 2008

608 pages, 8 tables
23.5 x 15.6 x 4 cm, 1.08 kg

'New Institutional Economics (NIE) has been one of the most successful fields of applied economics, and its contributions have been far-reaching, methodologically and substantively. Methodologically, NIE has developed valuable intersections with other fields in economics, including game-theory, law and economics, public choice and constitutional political economy, industrial organization, managerial economics, and development economics. Substantively, the applications of NIE span through many disciplines, ranging from law to politics, to institutional design, to contracting and business organization. This book is a testament to the growing success of NIE and a valuable guide to its literature for both insiders and outsiders to the field.' Francesco Parisi, Professor of Law, University of Minnesota Law School, and Professor of Public Finance, University of Bologna

Institutions frame behaviors and exchanges in markets, business networks, communities, and organizations throughout the world. Thanks to the pioneering work of Ronald Coase, Douglas North and Olivier Williamson, institutions are now recognized as being a key factor in explaining differences in performance between industries, nations, and regions. The fast-growing field of new institutional economics analyzes the economics of institutions and organizations using methodologies, concepts, and analytical tools from a wide range of disciplines (including political science, anthropology, sociology, management, law, and economics). With contributions from an international team of researchers, New Institutional Economics provides theoreticians, practitioners, and advanced students in economics and social sciences with a guide to the many recent developments in the field. It explains the underlying methodologies, identifies issues and questions for future research, and shows how results apply to decision making in law, economic policy, management, regulation and institutional design.

List of figures
List of tables
List of contributors
Acknowledgments
Foreword Oliver E. Williamson
A Road Map for the Guidebook Eric Brousseau and Jean-Michel Glachant
Introductory Chapter - New Institutional Economics: a Report Card Paul L. Joskow
Part I. Foundations: 1. The Theories of the Firm PIERRE GARROUSTE and STEPHANE SAUSSIER
2. Contracts: From Bilateral Sets of Incentives to the Multi-Level Governance of Relations ERIC BROUSSEAU
3. Institutions and the Institutional Environment JOHN NYE
4. Human nature and institutional analysis BENITO ARRUNADA
Part II. Methodology: 5. The 'Case' for Case Studies in the New Institutional Economics LEE J. ALSTON
6. New Institutional Econometrics: The Case of Research on Contracting and Organization MICHAEL E. SYKUTA
7. Experimental methodology to inform New Institutional Economics Issues STEPHANE ROBIN and CARINE STAROPOLI
8. Game Theory and Institutions THIERRY PENARD
Part III. Strategy and Management: 9. New-Institutional Economics, Organization and Strategy JACKSON NICKERSON and LYDA BIGELOW
10. Inter-firm Alliances: A New Institutional Economics Approach JOANNE E. OXLEY and BRIAN S. SILVERMAN
11. Governance Structure and Contractual Design in Retail Chains EMMANUEL RAYNAUD
Part IV. Industrial Organization: 12. Make or buy decisions: a NIE approach MANUEL GONZALEZ-Diaz and LUIS VAZQUEZ
13. Transaction Costs, Property Rights, and the Tools of the New Institutional Economics: Water Rights and Water Markets GARY D. LIBECAP
14. Contracting and Organization in Food and Agriculture MICHAEL L. COOK, PETER G. KLEIN and CONSTANTINE ILIOPOULOS
Part V. Institutional Design: 15. Buy, lobby or sue: interest group participation in policy making – a selective survey PABLO T. SPILLER and SANNY LIAO
16. Regulation and Deregulation in network industry JEAN-Michel GLACHANT and YANNICK PEREZ
17. Constitutional Political Economy – Analyzing the most basic layer of formal institutions STEFAN VOIGT
18. New Institutional Economics and its Application on Transition and Developing Economies SONJA OPPER
Part VI. Challenges to Institutional Analysis: 19. Law and Economics in Retrospect ANTONIO NICITA and UGO PAGANO
20. The Theory of the Firm and Its Critics: a Stocktaking and an Assessment NICOLAI J. FOSS and PETER G. KLEIN
21. The Causes of Institutional Inefficiency: A Development Perspective JEAN- PHILIPPE PLATTEAU
References
Index.

Subject Areas: International organisations & institutions [LBBU], Law & society [LAQ], Economics [KC], International institutions [JPSN]