Okay, here is the translation according to your instructions: New Institutional Economics Research

Author: Lü Zhonglou
Publisher:
Publish Date: 2005-01-01
Features: New Institutional Economics attempts to use mainstream Western economic theory (primarily neoclassical economics) to analyze the formation and operation of institutions, and to discover their role and function in the operation of the economic system. The philosophical thought of New Institutional Economics is the economic liberalism upheld by neoclassical economics. Its basic assumptions and analytical tools also follow neoclassical economics, which is the "rational actor" paradigm and marginal analysis. What distinguishes New Institutional Economics from neoclassical economics is the introduction of the "transaction cost" concept. "Transaction cost" is the core concept of New Institutional Economics, and it is the basis used by New Institutional Economists to analyze all institutional and organizational choices. New Institutional Economics is mainly composed of enterprise theory, property rights theory, economic growth theory, state theory, and institutional change and innovation theory. This book discusses these theories separately.