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New PDF release: A Modern Reader in Institutional and Evolutionary Economics:

By Geoffrey M. Hodgson, ed.

ISBN-10: 1840644745

ISBN-13: 9781840644746

Within the Nineties, institutional and evolutionary economics emerged as essentially the most artistic and profitable ways within the glossy social sciences. This reader gathers jointly contributions from top foreign authors within the box of institutional and evolutionary economics together with Eileen Appelbaum, Benjamin Coriat, Giovanni Dosi, Sheila C. Dow, Bengt-Ake Lundvall, Uskli Maki, Bart Nooteboom and Marc R. instrument. The emphasis is on key ideas similar to studying, belief energy, pricing and markets,with a few essays dedicated to technique and others to the comparability of other varieties of capitalism.

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Additional info for A Modern Reader in Institutional and Evolutionary Economics: Key Concepts (In Association With the European Association of Evolutionary Political Economy (EAEPE).)

Example text

Hamilton’s contribution to an institutionalist theory of discretionary pricing, then, consists of: (a) his recognition and demonstration of overt and pervasive pricing power in industry; (b) his showing of the role of convention and custom in actual industrial pricing practice; (c) his demonstration of the remarkable variability and complexity in pricing practices; and (d) his recognition of the probable need for an industrial policy to impinge on industrial Contributions to an institutionalist theory of price determination 13 leaders’ discretion over pricing, and his implication of the need to examine and appraise criteria of pricing judgements.

Having now considered the institutional character of markets and pricing, and why discretionary control over price determination is sought, I conclude this section with a brief illustrative exploration of institutional configurations in and through which pricing judgements are made. In most advanced economics, the modern large corporation is the major institutional complex through which industrial goods and major services are produced and distributed. Although its specific form varies, it is usually created only with governmental permission.

542). ‘Thus price and the costs which attend it – are a pecuniary reflection of the usages which impinge upon the making and marketing of a good. These usages run through the whole industrial process. ). Hamilton’s contribution to an institutionalist theory of discretionary pricing, then, consists of: (a) his recognition and demonstration of overt and pervasive pricing power in industry; (b) his showing of the role of convention and custom in actual industrial pricing practice; (c) his demonstration of the remarkable variability and complexity in pricing practices; and (d) his recognition of the probable need for an industrial policy to impinge on industrial Contributions to an institutionalist theory of price determination 13 leaders’ discretion over pricing, and his implication of the need to examine and appraise criteria of pricing judgements.

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A Modern Reader in Institutional and Evolutionary Economics: Key Concepts (In Association With the European Association of Evolutionary Political Economy (EAEPE).) by Geoffrey M. Hodgson, ed.


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