The new institutional economics - main theories
The new institutional economics - main theories
Author(s): Emilia Obińska-WajdaSubject(s): Law on Economics, Financial Markets, Socio-Economic Research
Published by: Wyższa Szkoła Informatyki i Zarządzania z siedzibą w Rzeszowie
Keywords: Agency Theory; the New Institutional Economics; transaction costs; property rights;
Summary/Abstract: The aim of this article is to show that the New Institutional Economics is an interdisciplinary stream combining economics, law, organization theory, political sciences, sociology, and anthropology. The main theories which are part of the New Institutional Economics are: Agency Theory, Property Rights Theory and Transaction Costs Theory. The basic assumptions of these theories are mentioned in this paper. This article is an introduction to the New Institutional Economics and its main theories. For this purpose, it presents a brief guide for those who are interested in the New Institutional Economics. Finally, the article is accompanied by a short review of examples of empirical studies connected with these theories.
Journal: Financial Internet Quarterly
- Issue Year: 12/2016
- Issue No: 1
- Page Range: 78-85
- Page Count: 8
- Language: English
