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A Multiplicity of Approaches to Institutional Analysis. Applications to the Government and the Arts

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  • Bruno S. Frey

Abstract

Four types of “economics” relevant for institutional analysis are distinguished: Standard Neoclassical Economics; Socio-Economics or Social Economics; New Institutional Economics; and Psychological Economics (often misleadingly called Behavioural Economics). The paper argues that an extension of Neoclassical Economics with elements from other social sciences (including political science, sociology, psychology, law and anthropology) is fruitful to explain institutions because it allows us to maintain the strength of that approach. Social Economics can play an important role helping to overcome the limitations of Neoclassics. However, it should become more concrete, integrate what is useful in Neoclassics, and should seriously engage in empirical research.

Suggested Citation

  • Bruno S. Frey, 2009. "A Multiplicity of Approaches to Institutional Analysis. Applications to the Government and the Arts," CESifo Working Paper Series 2727, CESifo.
    • Handle: RePEc:ces:ceswps:_2727
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    References listed on IDEAS

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    1. Bruno Frey, 2009. "Economists in the PITS?," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 56(4), pages 335-346, December.
    2. Andreas P. Kyriacou, 2006. "Functional, Overlapping, Competing, Jurisdictions and Ethnic Conflict Management," Kyklos, Wiley Blackwell, vol. 59(1), pages 63-83, February.
    3. Elina Lampi & Matilda Orth, 2009. "Who Visits the Museums? A Comparison between Stated Preferences and Observed Effects of Entrance Fees," Kyklos, Wiley Blackwell, vol. 62(1), pages 85-102, February.
    4. Throsby, David, 1994. "The Production and Consumption of the Arts: A View of Cultural Economics," Journal of Economic Literature, American Economic Association, vol. 32(1), pages 1-29, March.
    5. Bruni S. Frey, 1999. "The New Democratic Federalism For Europe," Books, Edward Elgar Publishing, number 1679 edited by Reiner Eichenberger.
    6. Morris Altman, 2008. "The Social Economics of Growth and Income Inequality," Chapters, in: John B. Davis & Wilfred Dolfsma (ed.), The Elgar Companion to Social Economics, chapter 14, Edward Elgar Publishing.
    7. Simon, Herbert A., 1985. "Human Nature in Politics: The Dialogue of Psychology with Political Science," American Political Science Review, Cambridge University Press, vol. 79(2), pages 293-304, June.
    8. repec:bla:kyklos:v:53:y:2000:i:3:p:363-86 is not listed on IDEAS
    9. Olson, Mancur, Jr, 1969. "The Principle of "Fiscal Equivalence": The Division of Responsibilities among Different Levels of Government," American Economic Review, American Economic Association, vol. 59(2), pages 479-487, May.
    10. Mueller,Dennis C. (ed.), 1997. "Perspectives on Public Choice," Cambridge Books, Cambridge University Press, number 9780521553773, September.
    11. Robert P. Inman & Daniel L. Rubinfeld, 1997. "Rethinking Federalism," Journal of Economic Perspectives, American Economic Association, vol. 11(4), pages 43-64, Fall.
    12. Bruno S. Frey (ed.), 1997. "Political Business Cycles," Books, Edward Elgar Publishing, number 920.
    13. Pranab Bardhan & Isha Ray, 2008. "Methodological Approaches in Economics and Anthropology," Chapters, in: John B. Davis & Wilfred Dolfsma (ed.), The Elgar Companion to Social Economics, chapter 24, Edward Elgar Publishing.
    14. Mueller,Dennis C., 2003. "Public Choice III," Cambridge Books, Cambridge University Press, number 9780521894753, September.
    15. John B. Davis & Wilfred Dolfsma (ed.), 2008. "The Elgar Companion to Social Economics," Books, Edward Elgar Publishing, number 3765.
    16. Casella, Alessandra & Frey, Bruno, 1992. "Federalism and clubs : Towards an economic theory of overlapping political jurisdictions," European Economic Review, Elsevier, vol. 36(2-3), pages 639-646, April.
    17. Bruno S. Frey & Silke Humbert & Friedrich Schneider, 2007. "Was denken deutsche Ökonomen? Eine empirische Auswertung einer Internetbefragung unter den Mitgliedern des Vereins für Socialpolitik im Sommer 2006," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 8(4), pages 359-377, November.
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    Cited by:

    1. Yu‐Fu Chen & Michael Funke, 2010. "Booms, Recessions And Financial Turmoil: A Fresh Look At Investment Decisions Under Cyclical Uncertainty," Scottish Journal of Political Economy, Scottish Economic Society, vol. 57(3), pages 290-317, July.
    2. Joan Costa-i-Font, 2010. "Unveiling Vertical State Downscaling: Identity and/or the Economy?," LEQS – LSE 'Europe in Question' Discussion Paper Series 20, European Institute, LSE.

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    More about this item

    Keywords

    Institutional Economics; Neoclassics; Psychological Economics; Behavioural Economics; institutions;
    All these keywords.

    JEL classification:

    • H77 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Intergovernmental Relations; Federalism
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State
    • Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature

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