O Custo da Incerteza: Uma Análise do Pensamento Novo Institucional de Douglass North

Daniel Mendonça, Araújo (2015): O Custo da Incerteza: Uma Análise do Pensamento Novo Institucional de Douglass North.

Abstract

The theme of economic development has always had an important role at the center of macroeconomic research, meanwhile microeconomic environment; uncertainty has its due prominence. However, few authors develop these issues jointly, although the uncertainty holds an important role in decision making of agents, and therefore the array of choices that determine the development of a country. This paper aims to examine how to establish the relationship between uncertainty and economic development, from the perspective proposed by Nobel 1993, Douglass North (05Nov1920 – 23Nov2015). Based on an analysis of the notion of uncertainty proposed by Knight in 1927, this paper advances to the contemporary notion developed by North. Then, through a breakdown of development theory proposed by North, will be discussed how the uncertainty is associated with each factor of development, aiming to demonstrate the critical role played by the control of Uncertainty in development or decline a country.

• Item Type: MPRA Paper
• English Title: The Cost of Uncertainty: A New Institutional Thought Analysis of Douglass North
• Language: Portuguese
• Keywords: Development; Douglass North; Uncertainty; Economic Transition
• Subjects: B - History of Economic Thought, Methodology, and Heterodox Approaches > B1 - History of Economic Thought through 1925 > B15 - Historical ; Institutional ; Evolutionary; B - History of Economic Thought, Methodology, and Heterodox Approaches > B4 - Economic Methodology; B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches > B52 - Institutional ; Evolutionary; K - Law and Economics > K2 - Regulation and Business Law; O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development; O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O11 - Macroeconomic Analyses of Economic Development; O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O17 - Formal and Informal Sectors ; Shadow Economy ; Institutional Arrangements; O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O31 - Innovation and Invention: Processes and Incentives; O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O34 - Intellectual Property and Intellectual Capital; O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O38 - Government Policy; O - Economic Development, Innovation, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O43 - Institutions and Growth; O - Economic Development, Innovation, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O44 - Environment and Growth; P - Economic Systems > P1 - Capitalist Systems > P14 - Property Rights; Z - Other Special Topics > Z1 - Cultural Economics ; Economic Sociology ; Economic Anthropology > Z13 - Economic Sociology ; Economic Anthropology ; Social and Economic Stratification

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