Record Details


Field	Value

Authentication Code	dc

Title Statement	MARKET AND GOVERNMENT FAILURES IN HISTORICAL INSTITUTIONAL ANALYSIS BY DOUGLASS C. NORTH AND AVNER GREIF

Added Entry - Uncontrolled Name	Fijałkowski, Karol

Summary, etc.	<p>Economic historians Douglass C. North and Avner Greif use the tools on the New Institutional Economics and Game Theory and draw the attention of economists to the fact that both markets and governments are institutional constructs created by opportunistic individuals and groups with different interests. They show how exceptionally many are the social and cultural conditions of credible commitment are necessary for the emergence of efficient markets and government. In contrast with standard economic approaches, from the historical-institutional point of view it is the efficiency of some markets and governments should be treated as “deviations” from a norm and states of “failure” – as a starting points in analyses of markets and governments. This observation bears important implications both for contemporary institutional engineering and for economic theory, and even for teaching economics.</p>

Publication, Distribution, Etc.	Uniwersytet Mikołaja Kopernika w Toruniu 2010-12-31 00:00:00

Electronic Location and Access	application/pdf http://www.apcz.pl/czasopisma/index.php/EiP/article/view/EiP.2010.004

Data Source Entry	Ekonomia i Prawo. Economics and Law; Vol 6, No 1 (2010)

Language Note	pl

Terms Governing Use and Reproduction Note	Copyright (c)

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