The New Institutional Economics of Markets

The New Institutional Economics of Markets

Elgar Research Reviews in Economics

Eirik G. Furubotn and Rudolf Richter

To date, the formulation of a systematic theory of the organization of markets has proved to be a difficult task and remains unfinished. Nevertheless, explanations do exist as to why, under given conditions, the basic activities of trade are organized in one particular fashion rather than another. This research review presents a comprehensive overview of the selection of these important papers by authors working in the tradition of the new institutional economics.

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