Toward a Comparative Institutional Analysis
Abstract
A conceptual and analytical framework for understanding economic institutions and institutional change. Markets are one of the most salient institutions produced by humans, and economists have traditionally analyzed the workings of the market mechanism. Recently, however, economists and others have begun to appreciate the many institution-related events and phenomena that have a significant impact on economic performance. Examples include the demise of the communist states, the emergence of Silicon Valley and e-commerce, the European currency unification, and the East Asian financial crises. In this book Masahiko Aoki uses modern game theory to develop a conceptual and analytical framework for understanding issues related to economic institutions. The wide-ranging discussion considers how institutions evolve, why their overall arrangements are robust and diverse across economies, and why they do or do not change in response to environmental factors such as technological progress, global market integration, and demographic change.
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The functioning of complex institutions is highly dependent on tacit knowledge.
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- Authors
- Aoki, M.
- Affiliations
- Stanford University (US)
- Corresponding author
- Aoki, Masahiko
- ORCID
- Aoki, Masahiko
- Venue
- The MIT Press eBooks
- Publisher
- The MIT Press
- Published
- 2001-11-09
- OpenAlex
- W3143200038
- Cited by
- 1,480
- References
- 0
- Citations by year
- 2026: 104 · 2025: 57 · 2024: 42 · 2023: 73 · 2022: 60 · 2021: 81 · 2020: 76 · 2019: 76 · 2018: 52 · 2017: 60 · 2016: 56 · 2015: 53 · 2014: 59 · 2013: 53 · 2012: 63
- FWCI
- 42.50
- Type
- book
- Language
- en
- Open access
- closed
- Locations
- The MIT Press eBooks (publishedVersion)
- Topics
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic Theory and Institutions
- Social Sciences › Demography › Culture, Economy, and Development Studies
- Social Sciences › Safety Research › Experimental Behavioral Economics Studies
- Keywords
- economic institutions, institutional change, comparative institutional analysis, market mechanisms, game theory, institutional robustness, institutional diversity, technological progress, international market integration, demographic change, post-communist transition, e-commerce
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