This paper is aimed at looking at New Institutional Economics (NIE) as a meta-paradigm i.e. group of paradigms that has common roots and has evolved over a peri
The purpose of this paper is to present the main differences between New Institutional Economics, NIE, and Original Institutional Economics, OIE, and to questio
The New Institutional Economics incorporates a theory of institutions into economics. It builds upon the fundamental assumptions of scarcity and competition but
A much-needed exploration of the New Institutional Economics, or NIE, including a critical assessment of its central theoretical contributions since the field's
As today’s world develops and evolves, so does its economics. New economic approaches have begun to emerge, but traditional methods are still being implemente