This outstanding book presents new original contributions from some of the world's leading ecomists including Ronald Coase, Douglass C. North, Masahiko Aoki, Oliver E. Williamson and Harold Demsetz. It demonstrates the extent and depth of the New Institutional Ecomics research programme which is having a worldwide impact on the ecomics profession. The book lays out the fundamental dimensions of the research programme with special emphasis on the interaction between institutional factors, both formal and informal, and the performance of different arrangements that organize transactions. After examining the foundations of New Institutional Ecomics and houring Ronald Coase's contribution to the field, it presents controversial and conflicting views on the sources of growth. It places special emphasis on organizations and transactions, focusing on issues of trust, corruption, enforcement of contracts and modes of organization. Written by an eminent group of scholars, Institutions, Contracts and Organizations is an important landmark in the development of New Institutional Ecomics.
Edited by Claude Menard, University of Paris Pantheon-Sorbonne, France