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Metaphors and Analogies in Institutional Economic Theory

Author

Listed:
  • Frolov, Daniil
  • Lavrentyeva, Anna

Abstract

The article presents the critical review of physical and biological metaphors in the institutional economic theory. It is proved that physical (including mechanistic) analogies are most adequate for the associative characteristic of a statics and kinetics of institutional systems, and biological – for the figurative description of their evolution. Efficiency of use of metaphors and analogies from the most developed, vanguard areas of natural-science researches is shown.

Suggested Citation

  • Frolov, Daniil & Lavrentyeva, Anna, 2014. "Metaphors and Analogies in Institutional Economic Theory," MPRA Paper 55011, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:55011
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    References listed on IDEAS

    as
    1. Polterovich, Victor, 2001. "Трансплантация Экономических Институтов [Transplantation of Economic Institutions]," MPRA Paper 22034, University Library of Munich, Germany.
    2. Dequech, David, 2013. "Economic institutions: explanations for conformity and room for deviation," Journal of Institutional Economics, Cambridge University Press, vol. 9(1), pages 81-108, March.
    3. Maslov, Alexander & Volchik, Vyacheslav, 2010. "Neutral Markets, Non-neutral Institutions and Economic Evolution," MPRA Paper 42692, University Library of Munich, Germany.
    4. Richard Nelson, 2012. "Why Schumpeter has had so little influence on today’s main line economics, and why this may be changing," Journal of Evolutionary Economics, Springer, vol. 22(5), pages 901-916, November.
    5. R. Kapelyushnikov., 2008. "Ownership without Legitimacy?," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 3.
    6. O. Inshakov & D. Frolov., 2010. "Economic Institutionalism: An Evolutionary Perspective," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 9.
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    More about this item

    Keywords

    metaphors; institutionalism; institutions; path dependence; vacuum; field; impurities; niche construction; transplantation; genetics; evolution;
    All these keywords.

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;

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