The New Institutional Economics: Its Start, Its Meaning, Its Prospects

Richter, Rudolf

doi:10.1007/978-3-319-14154-1_1

Cited by 12 publications

(13 citation statements)

References 82 publications

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“…However, it is also easy for transaction costs to escalate. Transaction cost is the key theoretical element in New Institutional Economics, originated by Coase and developed by Williamson (Richter, 2005). The net effect of the total transaction costs, including external and internal costs, has been applied to compare the different contractual arrangements in a number of health care contexts (Dollery, 2001; Stiles et al ., 2001; Donato, 2010).…”

Section: Reform Frameworkmentioning

confidence: 99%

Provider payment to primary care physicians in China: background, challenges, and a reform framework

Wang

2018

Prim Health Care Res Dev

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A mixed system of input-based and output-based payments to institutions would probably be appropriate under a long-term and relational contract with the government. It was also advised that internal remuneration is provided by a basic salary plus a bonus based on performance, and an extra-regional allowance. We hope that the results can be used to shift the passive budgeting of in-house staff within the public primary health institutions toward strategic purchasing.

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Section: Reform Frameworkmentioning

confidence: 99%

Provider payment to primary care physicians in China: background, challenges, and a reform framework

Wang

2018

Prim Health Care Res Dev

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“…Although it is hard to pinpoint the exact definition of New Institutional Economics (NIE), its central claims and underpinnings can be propounded with some degree of generality. The central argument of the theories and approaches related with NIE is that institutions matter, and it is worth working through the relationship between institutional structure and the performance of any socio-economic system (Richter, 2005). NIE first emerged when Coase (1937) underlined the importance of transaction costs to analyze the reasons for the existence of the firm.…”

Section: Theoretical Underpinningsmentioning

confidence: 99%

Urban public transport systems from new institutional economics perspective: a literature review

Canıtez

2018

Transport Reviews

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The paper provides a novel perspective for the examination of urban public transport (UPT) systems based on a literature review of new institutional economics (NIE). New institutional economics is a rapidly growing interdisciplinary economic perspective which seeks to explain the role of institutions in the performance of socio-economic systems. It encompasses various economic theories including transaction cost economics, agency theory, contract theory and property rights economics. Although NIEbased approaches have been utilised in different sectors and policy areas, management and organisation of UPT systems is a policy area where the implications of NIE-related theories have not been thoroughly explored. UPT systems are complex and involve a variety of transport actors such as transport authorities, regulators, operators and passengers. These actors interact with each other as embedded in an institutional environment which structures the rules, hence determines the incentives, roles and liabilities for the actors. However, previous studies have generally taken this institutional environment as given and have not problematised it. This paper seeks to provide a concise literature review of UPT through the perspective of NIE to delve into the institutional configuration of UPT systems so that an institutional account of UPT is given. An institutional framework is proposed to help structure the current literature on UPT. To explore the applicability of NIE in conceptualising and problematising the issues concerning the management of UPT, the paper attempts to delineate the institutional landscape of UPT. The informal and formal institutions, governance structures and contractual relationships in UPT are examined through the lens of NIE. These institutional levels constitute the building blocks for the institutional arrangement of the UPT systems, and the proposed institutional framework for the analysis of UPT systems reviews and examines each institutional level in a systematic way. The paper explores the potential added-value that NIE provides, identifies the research gaps in the literature, and finally, shows the future avenues for NIE-inspired UPT studies.

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“…1Richter (2005) provides a useful history of NIE and The Handbook of New Institutional Economics provides background.…”

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confidence: 99%

“…13Among some of the other ideas variously associated with NIE as documented by Richter are those in the field of evolutionary economics, public choice and political economy, institutional history, modern Austrian economics, constitutional choice, and collective action (Richter, 2005). …”

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confidence: 99%

The future of new institutional economics: from early intuitions to a new paradigm?

Ménard

Shirley

2014

Journal of Institutional Economics

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International audienceThe trajectory of institutional economics changed in the 1970s when new institutional economics (NIE) began to take shape around some relative vague intuitions which eventually developed into powerful conceptual and analytical tools. The emergence of NIE is a success story by many measures: four Nobel laureates in less than 20 years, increasing penetration of mainstream journals, and significant impacts on major policy debates. This rapid acceptance is remarkable when we consider that it was divided from birth into distinct schools of thought. What will be the future of NIE? Will it be quietly absorbed by mainstream theory, or will it radically transform neoclassical economics into a new paradigm that includes institutions? To address these questions, we follow the sometimes-bumpy road to NIE's current successes and ponder the challenges that lie ahead

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The New Institutional Economics: Its Start, Its Meaning, Its Prospects

Cited by 12 publications

References 82 publications

Provider payment to primary care physicians in China: background, challenges, and a reform framework

Provider payment to primary care physicians in China: background, challenges, and a reform framework

Urban public transport systems from new institutional economics perspective: a literature review

The future of new institutional economics: from early intuitions to a new paradigm?

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