Bringing Institutions Into Evolutionary Economics: Another View with Links to Changes in Physical and Social Technologies

Pavel Pelikan
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Pavel Pelikan: The Ratio Institute, Postal: P.O. Box 5095, SE-102 42 Stockholm, Sweden, http://www.ratio.se

No 24, Ratio Working Papers from The Ratio Institute

Abstract: Like Nelson (2002), I make a case for bringing institutions into evolutionary economics. But unlike Nelson, who defines institutions as social technologies consisting of rules-routines, I define them in agreement with North (1990) as humanly devised rules-constraints — such as formal law and informal social norms — but also view them, to accommodate most of Nelson's approach, as constraining the variety of rules-routines employable by agents. I show that this definition has advantages for communicating with modern institutional analysis, for clarifying how institutions can influence, and be influenced by, changes in physical and social technologies, and for producing policy implications.

Keywords: institutions; rules-constraints; rules-routines; social technologies; economic evolutions (search for similar items in EconPapers)
JEL-codes: A10 B15 B52 N01 (search for similar items in EconPapers)
Pages: 28 pages
Date: 2003-05-15
New Economics Papers: this item is included in nep-cbe and nep-hpe
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (31)

Published in Journal of Evolutionary Economics, 2003, pages 237-258.

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