P?l Foss
Ashgate
Hardback
330
1995
Recent years have seen rapid developments in the economic analysis of organizations and institutions. There are a number of intersecting approaches: principal and agent theory the transaction cost approach the property rights approach public choice/constitutional economics neo-institutionalism Austrian economics and rational choice sociology. In conventional economics institutions are assumed to exist but they are considered neutral in their effect or quite simply ignored. The economics of institutions and organizations attempt to show that institutions do matter. Each organizational and institutional structure is assumed to affect incentives and behaviour and institutions are seen as legitimate objects of economic analysis.
Ashgate
Hardback
330
1995
Recent years have seen rapid developments in the economic analysis of organizations and institutions. There are a number of intersecting approaches: principal and agent theory the transaction cost approach the property rights approach public choice/constitutional economics neo-institutionalism Austrian economics and rational choice sociology. In conventional economics institutions are assumed to exist but they are considered neutral in their effect or quite simply ignored. The economics of institutions and organizations attempt to show that institutions do matter. Each organizational and institutional structure is assumed to affect incentives and behaviour and institutions are seen as legitimate objects of economic analysis.