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Economic Sociology and New Institutional Economics

In: Handbook of New Institutional Economics

Author

Listed:
  • Victor Nee
  • Richard Swedberg

Abstract

When economic sociology appeared on the academic scene in the mid-1980s its interactions with New Institutional Economics were soon plentiful as well as productive. Especially the ideas of OliverWilliamson and Douglass North were often discussed and found useful. That this was a fruitful interaction is exemplified not least by the fact that Williamson’s notion of “hybrid” was developed in response to comments on his distinction between markets and hierarchies by some sociologists. The concept of “transaction cost” soon became part of the sociological language, and sociologists suddenly seemed more receptive to ideas of economists than they had been for a very long time.

Suggested Citation

  • Victor Nee & Richard Swedberg, 2008. "Economic Sociology and New Institutional Economics," Springer Books, in: Claude Ménard & Mary M. Shirley (ed.), Handbook of New Institutional Economics, chapter 29, pages 789-818, Springer.
    • Handle: RePEc:spr:sprchp:978-3-540-69305-5_30
    DOI: 10.1007/978-3-540-69305-5_30
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    Cited by:

    1. Luigi Romano & Marcello Ruberti, 2019. "Focus on the Performances of the Most Advanced Italian Thermoelectric Power Plants," International Journal of Energy Economics and Policy, Econjournals, vol. 9(5), pages 264-273.
    2. Sagar Hernández Chuliá, 2016. "La relación entre neoinstitucionalismo económico y sociológico," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 18(35), pages 123-149, July-Dece.

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