Overview

The limitations of neoclassical economics in explaining real-world economic phenomena have led, in recent decades, to the emergence of a new school of thought known as 'Neo-institutional Economics'. Placing 'institutions' at the centre of economic analysis, Neo-institutional Economics draws on three main approaches: property rights theory, transaction costs theory and principal-agent theory. This book provides a comprehensive analysis of the foundations of these different approaches. Presented in a simple and concise manner, the book aims to provide all readers-particularly students, teachers and researchers in the social sciences-with an analytical and educational tool that is easy to understand and use.

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9786630026399

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