Economics as a Process: Essays in the New Institutional Economics

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Richard Langlois
CUP Archive, 1986 - 262 páginas
The essays in Economics as a Process are all concerned with exploring theoretical approaches alternative to the conventional or 'neoclassical' paradigm. Among the schools of thought represented are transaction-cost economics: evolutionary theories: modern 'Austrian' economies: law and economics: reliability theory: and the game-theory approach to the economics of social institutions. The essays are united not by a single topic but by a coherent set of themes - themes best described under the heading of the New Institutional Economics. These include an interest in economic processes as well as in states of equilibrium: a sensitivity to the limits and contours of human rationality: and an emphasis on the various sorts of social institutions that aid and inform economic action. But the essays are not solely methodological or critical. They also include substantive essays that illustrate the New Institutional Economics in practice.

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1
4
Three types of market process
27
8
33
Organisation competition and the growth
41
3
47
Uncertainty signaldetection experiments
59
The evolution of rules
117
The tension between process stories and equilibrium
135
a law and economics
153
framework
171
Capitalism and the factory system
203
Rationality institutions and explanation
225
Index
256
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