Home Volumul 2 INSTRUMENTE SI CONCEPTE ALE ECONOMIEI NEOINSTITUłIONALE

INSTRUMENTE SI CONCEPTE ALE ECONOMIEI NEOINSTITUłIONALE


Ana Iolanda Vodă
Faculty of Economics and Business Administration, Alexandru Ioan Cuza University,
22, Carol I Blvd., 700505, Iasi, Romania, e-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Abstract
Both Old Institutionalism and New Institutionalism offered a profound vision of the
economic reality that, once attained, offers countless benefits. Although there are numerous
concepts and instruments specific to Neoinstitutional Economics, this paper covers only a
fraction of them: Rational Choice Model, Wealth Maximization, Transactional Costs,
Inefficient Institutions and Path Dependence. Transactional costs, the institution, property
rights are just some of the many elements that make up the institutional framework, one
that is thought-provoking and in accordance to the economic realities. Once the vision is
understood it is hard to look from other points of view because we cannot concede to
explain economic realities without their analysis.
Keywords: institutions, rational choice model, wealth maximization, transactional costs,
path dependence

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