An Overview on Institutionalism and Decentralized Decision-Making

Cioclea, Alexandra Ema (2011): An Overview on Institutionalism and Decentralized Decision-Making. Unpublished.

Abstract

Human actions, interactions and decisions should have a certain degree of predictability that can be obtained by establishing rules. Institutions, in general, are defined by sets of rules known by the public and applicable for the community. Their existence is essential for the economic activity, as it cannot develop in a vacuum. At the same time, the type and the quality of institutions make the difference in implementing economic aspirations of individuals and in supporting economic overall growth. Institutions provide a minimum of regulations that in conjunction with the particularities and the interests of individuals and communities become the foundation for economic, political and social decision-making processes.

• Item Type: MPRA Paper
• Language: English
• Keywords: institutions, institutionalism, decision-making, decentralization
• Subjects: D - Microeconomics > D2 - Production and Organizations > D23 - Organizational Behavior; Transaction Costs; Property Rights; D - Microeconomics > D7 - Analysis of Collective Decision-Making > D73 - Bureaucracy; Administrative Processes in Public Organizations; Corruption; B - History of Economic Thought, Methodology, and Heterodox Approaches > B2 - History of Economic Thought since 1925 > B25 - Historical; Institutional; Evolutionary; Austrian

References

DiMaggio P., Powell W.W. (1991), The New Istitutionalism in Organisational Analisys, Chicago, Universitz of Chicago Press;

Kasper W., Streit M. (1998) Institutional Economics. Social Order and Public Policy, Edward Elgar Publishing, UK;

Knight J. (1992) Institutions and Social Conflict, Cambridge University Press;

Merkel D.C. (1998) Institutions, Institutional Change and Economic Performance, Cambridge university Press;

Morcol, G. (2000) Handbook of Decision Making, CRC Press, UK;

Veblen T, (1898) The Begining of Ownership, Americam Journal of Sociology