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Rationality, Institutions and Economic Methodology
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Rationality, Institutions and Economic Methodology

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Description

Neo-classical economics, with its emphasis on general equilibrium, has developed a tightly knit group of theories of great rigour. However, it lacks a conceptualization of organisation, institutions, structure and change and has virtually nothing to say about the role of norms and rules in economic behaviour. Such notions are of great significance in institutional economics, with its emphasis on property rights, contract and organizational forms. But institutional economics lacks the rigour and elegance of general equilibrium theory. Rationality, Institutions and Economic Methodology looks at ways to increase the scope and power of institutional economics. Different approaches to economic methodology are considered and the broader notions of rationality offered by institutional economics are discussed, as are the methodological problems of evolutionary and institutional change.

Author Biography:

Bo Gustafsson, Christian Knudsen, Uskali M
Release date Australia
June 17th, 1993
Audiences
  • Postgraduate, Research & Scholarly
  • Professional & Vocational
  • Undergraduate
Contributors
  • Edited by Bo Gustafsson
  • Edited by Christian Knudsen
  • Edited by Uskali Maki
Pages
320
Dimensions
156x234x17
ISBN-13
9780415092081
Product ID
5679477

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