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The new institutional economics offers one of the most exciting research agendas in economics today. Yet can it really explain processes of economic change? Economic Evolution explores three of the main approaches within the new institutional economics: * the new theory of the firm, * Nelson and Winter's evolutionary economics * game theoretic accounts of spontaneous evolution. Close analysis reveals that the approaches differ on such fundamental issues as the meaning of terms like 'institution' and 'evolution'. However, the book also uncovers two evolutionary mechanisms that govern processes of economic change in all of these approaches.

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Book Details

ISBN: 9780415128131
ISBN-10: 0415128137
Format: Paperback
(234mm x 156mm x 14mm)
Pages: 256
Imprint: Routledge
Publisher: Taylor & Francis Ltd
Publish Date: 19-Oct-1995
Country of Publication: United Kingdom

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