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Неформални институции, идеологии и транзакционни разходи
Informal Institutions, Ideologies, and Transaction Costs

Author(s): Teodor Sedlarski
Subject(s): Social Sciences
Published by: Институт за изследвания на обществата и знанието при БАН

Summary/Abstract: The article examines the interrelations between the concepts of informal institutions and transaction costs in D. North’s economic theory. Within his institutional framework not only institutions, but also ideologies can be seen as means for economizing transaction costs both on the individual and social level. This theoretical approach makes an economic explanation of the existence and development of institutions possible, including the institutional processes during the transition to a market economy. In the second part of the paper it is argued against the market interpretation of the functions of institutions. Opposing views to downgrading social norms to a mechanism for minimizing costs of exchange come from the so called old institutionalism and the economic sociology.

  • Issue Year: 41/2009
  • Issue No: 3-4
  • Page Range: 139-155
  • Page Count: 17
  • Language: Bulgarian