Economics, Econometrics and Finance
5 years ago

Divergent paths: Original vs. New Institutional Economics clash in methodology.

Journal of Economic Issues
Similarities and Dissimilarities between Original Institutional Economics and New Institutional Economics
Antoon Spithoven

Paper Summary

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The article compares Original Institutional Economics and New Institutional Economics. They have some similarities, but their methods and beliefs are too different to fully merge. Both approaches can benefit from each other's strengths.