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What is The New Institutional Economics Douglass North 1986 about?

Douglass C. North discusses the foundations and implications of New Institutional Economics, emphasizing the integration of neo-classical theory with the analysis of institutions that shape human choices. He outlines key concepts such as transaction costs, the role of organizations in reducing contracting costs, and the importance of political structures in enforcing property rights. The paper aims to establish a comprehensive theory of institutional change, highlighting how individual behaviors and ideolog

Author

Yusuf Saadat

Language

EN