290x Filetype PDF File size 1.07 MB Source: entwicklungspolitik.uni-hohenheim.de
Institutional Economics and
Institutions
TOPIC 1
G.A. OBARE
Outline
• Schools of thought
• NIE and neoclassical economics
• Core assumptions of NIE
• What are institutions?
• NIE examples
• Critiques of NIE
• Behavioural economics
• Main reference: ch 2 of textbook
New Institutional Economists?
•Coase, North, Williamson
•Stiglitz, Ostroms, Bardhan, Fafchamps,
Hayami, Platteau
Schools of Thought
• Economics of imperfect information
• Agency theory
• Transaction cost economics
• Property rights theory
• Incomplete contract theory
• Theory of collective action
• Game theory?
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