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Different institutional behavior in different economic systems: Theory and evidence on diverging systems worldwide

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  • Cohen, Solomon I.

Abstract

The paper reviews and criticizes the past and current state of comparative studies of economic systems (CSES) for the lack of an analytical framework to back them. An analytical framework is formulated that allows for a changing distribution and interaction of agents along the subsystems, each of which is characterized by distinct and intrinsic institutional rules. The framework studies the convergence of agents and institutions toward the dominant subsystem and behavioral type. The focus is on three subsystems – household, firm and state settings – and the intrinsic behavioral types that are associated with these, namely social sharing, profit maximization, and rent acquisition, respectively. A fourth prototype is proposed.

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  • Cohen, Solomon I., 2014. "Different institutional behavior in different economic systems: Theory and evidence on diverging systems worldwide," Economic Systems, Elsevier, vol. 38(2), pages 221-242.
    • Handle: RePEc:eee:ecosys:v:38:y:2014:i:2:p:221-242
    DOI: 10.1016/j.ecosys.2013.08.003
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    2. repec:ers:journl:v:volumexxi:y:2018:i:issue4:p:356-367 is not listed on IDEAS
    3. I.N. Sycheva & E.M. Akhmetshin & A.N. Dunets & I.A. Svistula & T.A. Panteleeva & I.Yu. Potashova, 2018. "Labour Relations in Research of Socio-economic Systems," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 356-367.
    4. Marek Piosik, 2018. "Mainstreams of research on institutional change in the multidimensional viewpoint," Ekonomia i Prawo, Uniwersytet Mikolaja Kopernika, vol. 17(3), pages 289-287, September.

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    Keywords

    NIE; Economic systems; State; Firms;
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