new institutional economics

E455288
branch of economics institutional economics school of economic thought

New institutional economics is a school of economic thought that extends neoclassical economics by emphasizing the role of institutions, transaction costs, and property rights in shaping economic behavior and outcomes.

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All labels observed (1)

Label Occurrences
new institutional economics canonical 1

Statements (51)

Predicate Object
instanceOf branch of economics ⓘ
institutional economics ⓘ
school of economic thought ⓘ
analyzes contracts ⓘ
economic history through institutions ⓘ
firms as governance structures ⓘ
markets as institutions ⓘ
organizational forms ⓘ
regulation ⓘ
states as institutions ⓘ
appliedIn development economics ⓘ
economic history ⓘ
industrial organization ⓘ
organizational economics ⓘ
political economy ⓘ
associatedWith Armen A. Alchian NERFINISHED ⓘ
Claude Ménard NERFINISHED ⓘ
Douglass C. North NERFINISHED ⓘ
Elinor Ostrom NERFINISHED ⓘ
Harold Demsetz NERFINISHED ⓘ
Oliver E. Williamson NERFINISHED ⓘ
Ronald Coase NERFINISHED ⓘ
Yoram Barzel NERFINISHED ⓘ
buildsOn Coase theorem NERFINISHED ⓘ
agency theory ⓘ
game theory ⓘ
law and economics ⓘ
property rights theory ⓘ
public choice theory ⓘ
transaction cost economics ⓘ
contrastsWith old institutional economics ⓘ
distinguishes formal institutions ⓘ
informal institutions ⓘ
emerged 1960s ⓘ
emphasizes institutions ⓘ
property rights ⓘ
transaction costs ⓘ
extends neoclassical economics ⓘ
focusesOn comparative institutional analysis ⓘ
contract enforcement ⓘ
governance structures ⓘ
incomplete contracts ⓘ
information asymmetries ⓘ
principal–agent problems ⓘ
role of institutions in economic performance ⓘ
transaction cost minimization ⓘ
gainedProminence 1970s ⓘ
influenced governance of the firm literature ⓘ
policy debates on institutions and growth ⓘ
theories of economic development ⓘ
views institutions as rules of the game ⓘ

Referenced by (1)

Full triples — surface form annotated when it differs from this entity's canonical label.

Ronald Coase → influenced → new institutional economics ⓘ