Contributors ................................................... ix
Acknowledgement .............................................. xiii
Introduction
Claude Menard and Mary M. Shirley ............................ 1
Section I The Domain of New Institutional Economics
1. Institutions and the Performance of Economies over Time
Douglass С. North ........................................ 21
2. The Institutional Structure of Production
Ronald H. Coase .......................................... 31
3. Transaction Cost Economics
Oliver E. Williamson ..................................... 41
Section II Political Institutions and the State
4. Electoral Institutions and Political Competition:
Coordination, Persuasion and Mobilization
Gary W. Cox .............................................. 69
5. Presidential versus Parliamentary Government
John M.Carey ............................................. 91
6. Legislative Process and the Mirroring Principle
Mathew D. McCubbins ..................................... 123
7. The Performance and Stability of Federalism: An
Institutional Perspective
Barry R. Weingast ....................................... 149
Section III Legal Institutions of a Market Economy
8. The Many Legal Institutions that Support
Contractual Commitments
Gillian K. Hadfield ..................................... 175
9. Legal Systems as Frameworks for Market Exchanges
Paul H. Rubin ........................................... 205
10.Market Institutions and Judicial Rulemaking
Benito Arrufiada and Veneta Andonova .................... 229
11.Legal Institutions and Financial Development
Thorsten Beck and Ross Levine ........................... 251
Section IV Modes of Governance
12.A New Institutional Approach to Organization
Claude Menard ........................................... 281
13.Vertical Integration
Paul L. Joskow .......................................... 319
14.Solutions to Principal-Agent Problems in Firms
Gary J. Miller .......................................... 349
15.The Institutions of Corporate Governance
Mark J. Roe ............................................. 371
16.Firms and the Creation of New Markets
Erin Anderson and Hubert Gatignon ....................... 401
Section V Contractual Arrangements
17.The Make-or-Buy Decisions: Lessons from Empirical
Studies
Peter G. Klein .......................................... 435
18.Agricultural Contracts
Douglas W. Allen and Dean Lueck ......................... 465
19.The Enforcement of Contracts and Private Ordering
Victor P. Goldberg ...................................... 491
Section VI Regulation
20.The Institutions of Regulation. An Application to
Public Utilities.
Pablo T. Spiller and Mariano Tommasi .................... 515
21.State Regulation of Open-Access, Common-Pool Resources
Gary D. Libecap ......................................... 545
22.Property Rights and the State
Lee J. Alston and Bernardo Mueller ...................... 573
23.Licit and Illicit Responses to Regulation
Lee Benham .............................................. 591
Section VII Institutional Change
24.Institutions and Development
Mary M. Shirley ......................................... 611
25.Institutional and Non-Institutional Explanations of
Economic Differences
Stanley L. Engerman and Kenneth L. Sokoloff ............. 639
26.Institutions and Firms in Transition Economies
Peter Murrell ........................................... 667
27.Social Capital, Social Norms and the New Institutional
Economics
Philip Keefer and Stephen Knack ......................... 701
28.Commitment, Coercion and Markets: The Nature and
Dynamics of Institutions Supporting Exchange
Avner Greif ............................................. 727
Section VIII Perspectives
29.Economic Sociology and New Institutional Economics
Victor Nee and Richard Swedberg ......................... 789
30.Doing Institutional Analysis: Digging Deeper than
Markets and Hierarchies
Elinor Ostrom ........................................... 819
Subject Index ................................................. 849
Author Index .................................................. 867
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