‘Silent Trade’ and the Supposed Continuum between OIE and NIE

Wilfred Dolfsma ()

Chapter 5 in Institutions, Communication and Values, 2009, pp 52-61 from Palgrave Macmillan

Abstract: Abstract Original institutional economics (OIE) and new institutional economics (NIE) have differing positions on a number of issues. There is an ongoing discussion about the question of whether these categorically different positions (Hodgson 1988) are part of the same continuum (Rutherford 1994, 1995) or may even be reconciled (Groenewegen et al. 1995; Schmid 2004). These discussions tend to focus on methodological points of contention, and often draw heavily on the history of economic thought. I take a slightly different approach by analysing the phenomenon of ‘silent trade’ (ST).

Keywords: Mental Model; Market Exchange; Gift Exchange; Decision Frame; Competitive Market Structure (search for similar items in EconPapers)
Date: 2009
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DOI: 10.1057/9780230250666_5

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