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The Legal-Economic Nexus from the Perspective of New Institutional Economists and Original Institutional Economists

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  • Antoon Spithoven

Abstract

There are two institutional economics approaches to law and economics. New institutional economists prescribe that arbitrators foster efficiency in setting economic disputes and original institutional economists focus on creating reasonable values – that is, balancing efficiency and justice. Disequilibrium between desired efficiency and perceived fairness triggers agency and is a source of coevolution of law and economics.

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  • Antoon Spithoven, 2018. "The Legal-Economic Nexus from the Perspective of New Institutional Economists and Original Institutional Economists," Journal of Economic Issues, Taylor & Francis Journals, vol. 52(2), pages 550-558, April.
    • Handle: RePEc:mes:jeciss:v:52:y:2018:i:2:p:550-558
    DOI: 10.1080/00213624.2018.1469935
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    Cited by:

    1. Emre Ünal, 2021. "Economic populism and institutional changes in wage–labor relations," Evolutionary and Institutional Economics Review, Springer, vol. 18(2), pages 407-433, September.
    2. Frolov, Daniil, 2019. "Постинституционализм: Программа Исследований За Пределами Институционального Мейнстрима [Post-institutionalism: research program beyond the institutional mainstream]," MPRA Paper 92328, University Library of Munich, Germany.

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