Analysis Of The New Institutional Economics Methodology

If western economics becomes " studying apparently " in recent years, so new institutional economics is " studying apparently " while " studying apparently ". This word of new institutional economics is put forward first by Williamson, and its purpose is for distinguishing old institutional economics. New institutional economics means the theory of contemporary west economy taking property right and institution as main research object. The mainstreams of the theory are property rights economics thinking Coase as representation and institutional performance and change economics thinking North as representation. Developed by Coase,Williamson, Demsetz,Steven Cheung, Alchian and North ,new institutional economics has formed a series of branch disciplines, which includes costs of change economics , property rights economics , economic analysis law science and new economic historiography ,etc, thus it forms a set of relatively intact systems. Because it has involved such numerous disciplines as law science, political science, history, sociology , philosophy ,etc, and it uses a plain non-formalization express , presses close to social" narrating in the way " of life closely to economic development realistic problem extensive explanation, new institutional economics is paid close attention to by various circles ofsociety, especially educational circles of economy day by day, and becomes one of the research directions of the most forward position of modern western economics in the past 20 years.New institutional economics is considered generally to be non-mainstream western economics, but the research of new institutional economics is being expanded and deepened rapidly. The expansion of its field in traditional economics shows mainly: it has offered the new opinion and more convincing explanation for key questions, which including the economic coordination way, enterprises integrate and not integrate vertically, the incompleteness of the agreement, organization, market structure and growth elements, etc. At present, the research of new institutional economics concentrates on four following fields: cost of change and property rights; political economy and public choose; economic history of quantity; the cognition, ideology and function of routing. Promotion with constant research approach of new institutional economics at the same time, it displays to be more and more accurate in relevant concept, constant development of model perfect and experience prove enriching constantly, especially as " the institution's importance for economic development " is accepted by the west academia, western economists understand the economic meaning of arrange of various kinds of ownership with the mathematics and physics model more and more, and the meaning of arranging to the ownership on a lot of phenomenawith the complicated measurement model is examined. However, from the point of view of theory, new institutional economics still rests on the classical price theory, and attempts to perfect new classical economics theoretically. From the point of view of methodology, new institutional economics regards new classical economics as " kernel " of one's own theory. On the basis of assumed conditions of new classical economics, it constructs its theoretical system through introducing such factors as limited reason and institution, etc., and relaxing the limiting conditions progressively, but The basic method adopted by it is still a analytical method of the price of new classical economics, so as to describe the economic phenomenon of a lot of real worlds. New institutional economist attempts to prove that new classical economics and new institutional economics may set up a bridge, and make great efforts to realize this purpose through carrying on the model of the basic conception of new institutional economics. Said like that just as North: "We should pay attention to combining theory of the new classical price of the tradition with our theory constantly. We dose not attempt to substitute the new classical theory, but to make institution...