НЕОКЛАСИЧЕСКИ И ИНСТИТУЦИОНАЛЕН СИНТЕЗ НА ДОМАКИНСТВАТА
NEOCLASSICAL AND INSTITUTIONAL SYNTHESIS OF HOUSEHOLDS

Summary/Abstract: The paper presents a study on households as subjects of economic relations in terms of the institutional and neoclassical synthesis. Households are considered a primary component of the economic system, as well as objectively necessary and relatively autonomous economic entities. The neoclassical synthesis deals with two main characteristics of both individuals and households – their rationalism and sovereignty – as key factors of their behaviour in a market economy. In response to the shortcomings of the neoclassical theory, the institutional approach focuses on the norms, rules and stereotypes that govern human behaviour in real life. The analysis of households as functional socio-economic entities requires a combination of the concepts of neoclassical and institutional approaches.

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