Experience Research on Institutional Change

Author: L. J. Alston
Publisher:
Publish Date: 2003-05-01
Features: This book is an anthology that collects the results of nine empirical studies conducted by 14 scholars. The scholars address a wide range of issues, from the evolution of stable markets in 17th-century England to the origins of property rights in modern U.S. air landing corridors. They analyze institutions and institutional changes in various fields across different historical periods. This anthology contributes to new institutional economics by emphasizing the role of transaction costs and property rights in shaping incentives and outcomes in the economic realm. To make these empirical research papers more accessible to a broad readership, including students of economics and other social sciences, the editors have written an introduction for each study and added three theoretical articles, including Douglas North's speech at the Nobel Prize in Economics ceremony.