Possession, Cognition, and Interpersonal Relationships: An Economic Sociology Analysis of Institutional Change in Rural China

Author: Liu Shiding
Publisher:
Publish Date: 2003-01-01
Features: In the discussion of this paper, special attention is paid to the complex aspects that arise when contracts are embedded in interpersonal relationships, such as friction and the uncertainty of cold air. Some economists often stop after pointing out that formal institutions are incomplete and that interpersonal relationships can compensate, thereby reducing transaction costs. This is unsatisfactory. They excessively dwell on comparing with the unrealistic state imagined by neoclassical economics, and after highlighting the incompleteness of formal institutions, they excessively dwell on comparing transaction costs with the state of institutional gaps. I believe that moving forward with more realistic assumptions is more important.
Book Description: Without grasping the boundaries of theory, it is impossible to use theory to understand reality; without studying reality, it is impossible to understand the boundaries of theory. This book is a record of the author's long-term dialogue between empirical research on institutional change in China and theoretical analysis. It is provided for reference for those interested in social science research.