The new institutional economics and its relevance to social economics

There has been a quiet revolution in economic theory, led by the New Institutionalists. Pioneered by Douglass C. North, this group argues that institutions are the main determinants of economic performance, yet neoclassical economics has no role for institutions. Contrary to many misconceptions, this theory of institutions can be integrated with neoclassical economics, leaving mainstream economic theory in tact, but broader and more relevant. The purpose of this article is twofold. First, the main arguments of the New Institutionalists are summarized. Second, the bridge between institutions and social economics is explored. The article concludes by arguing that the New Institutional approach is fruitful, and that the theory will gradually be integrated with neoclassical economics, until the two merge into a single body of theory.     

西方经济伦理研究的实验方法初探

随着实验经济学在经济学界越来越受重视,作为科学认识的经验认识方法的实验方法,逐渐被广泛运用于经济伦理学的研究.目前国外关于经济伦理学的实验主要有基于主体博弈的实验;基于计算机模拟仿真的实验和基于脑科学的实验三大类,这些实验都对传统经济学和经济伦理学的偏好理论、效用理论和"理性经济人"假设等提出了挑战.实验方法仍然是基于经验主义的传统,寻求实验力量与理性力量的结合,运用真正归纳法得出了普遍具有自然主义特征的经济伦理思想.实验方法虽然不可避免地会受到主观因素和环境因素的影响,但其具有可控可检的优势,可为我国完善经济伦理学研究方法论体系提供重要参考和借鉴.     

马克思经济学发现经济危机的社会哲学观和研究方法论——兼论马克思经济学和现代主流经济学的认知差异

马克思经济学比现代主流经济学更容易发现经济危机,主要源于两个基本特征:一是在社会哲学观上坚持矛盾冲突论,从而发现个人理性与集体理性之间的不一致性;二是在研究方法论上采用平均主义分析,从而更适合使用统计材料和历史材料来考察宏观经济的周期性波动。正因如此,马克思经济学能够充分认识到自由市场经济内含的冲突性,并从收入分配角度揭示了经济危机的内在根源;相应地,解决经济危机的根本措施就是,改变不合理的收入分配制度。     

The sceptic as an economist's philosopher? Humean utility as a positive principle

Whereas in philosophy David Hume was long regarded as a negative thinker to be criticized rather than read, many thinkers interested in social and economic theory from Adam Smith onwards found key concepts, distinctions and problems as developed by Hume useful and inspiring. This applies not only to his seminal contributions to technical problems in economics. It is argued that the way in which Hume employed ‘utility as a positive principle’ (most notably in his ‘experimental’ moral theory) is of pivotal importance in this context. It allows for:

a. distinguishing between internal motifs and external circumstances and constraints; and for

b. making explicit the abstract logic of social interaction structures, mechanisms and processes.

Both are necessary conditions for employing the logic of social situations and mechanisms in the explanation of social institutions and economic processes. It moreover prepares the ground for the use of simplified or cartoon-like models of individual agency in economic and social theory, but also for its critique. On this basis, Hume's influence on various strands of social and economic thought, but also the specific differences with regard to more ‘rationalistic’ approaches (such as Hobbesianism or important versions of neoclassical economics) can be assessed more clearly.     

Nominalising the numeric: an alternative to mathematical reduction in economics

Mathematical reduction in economics is the attempt to reducereasoning about human economic behaviour to the logic of numbersand numerical relations. The method of numerics shows how, insimple cases, the mathematical and non-mathematical componentsof economic theory can be both formally distinguished and integrated.However, in its compressed idiomatic form, this method treatsnumerics (the numerical terms in measuremental expressions)as determinatives (numerical adjectives) rather than as substantives.This paper shows how the numeric can be nominalised or giventhe grammatical status of a substantive. The method of numericsis then used to explore the fundamental flaws of mathematicalreduction in economists' efforts to achieve logical rigour inthe formalisation of economic theory.     

The Histonomic Approach to Economics: Beyond Pure Theory and Pure Experience

This article starts off with the distinction between logico-deductive and empirico-deductive approaches to economic theory. The logicodeductive approach, for instance neoclassical economics, uses an axiomatic framework that has only little empirical substance. The empirico-deductive approach, for instance, Ricardian economics, attempts to state economic theory as a “typical” structure of reality. It appears that the latter approach touches reality more closely and is more sensitive to intellectual enrichment and to substantial empirical evidence. However, both approaches operate within the basic assumption applied in classical physics, that theory must represent an invariant structure of reality—highlighting in this case economic phenomena that do not change over time. In the following, the induction issue is given new life, suggesting its validity under the non-conventional assumptions ofvariancy and time-asymmetry. A “histonomic” approach stressing the importance of making theoretical (-nomic) statements about economic phenomena that are basically historical (histo-) in their non-classical properties of variancy and time-asymmetry is favored.     

产品空间与比较优势演化述评

发展经济学家认为经济发展的核心问题是结构转型,而结构转型所需能力的积累源于比较优势的自然演化,并且国家的经济增长绩效最终会出现收敛。然而,纵观世界经济发展史,国富国穷现象一直存在,现有的经济增长理论并不能给出统一的理论解释,尤其是在解释"中国出口增长之谜"以及"中等收入陷阱"等增长谜题时,理论严重滞后于现实。为此,Hausmann等新近提出产品空间与比较优势演化理论,试图构建解释国家间增长绩效差异的统一理论框架,即产品空间决定了比较优势的演化,进而决定了国家的经济增长绩效。该理论与比较优势理论一脉相承,但因其进一步考虑到产品空间的异质性及产品集的不连续性等情况,对现实的解释力和政策的指导意义更强。     

Keynes’ Preface to the German Edition of the General Theory: Nazi Sympathies or Methodological Empathies?

In the (1936) preface to the German edition of The General Theory of Employment, Interest and Money, Keynes contrasts his methodology with that of Classical laissez-faire economics. He also compares and contrasts his methodology with German economics, which members of the German Historical School had heavily influenced. Unfortunately, some view Keynes as arguing in this Preface that his theory could more deductively apply to fascism than to laissez-faire economies. This would suggest an endorsement of Nazism. Of course, any support offered for Nazism should be condemned. However, instead of displaying Nazi sympathies, this paper argues that the Preface more likely supports the widespread methodological rejection in German economics of deducing laissez-faire outcomes from Classical postulates. Furthermore, Keynes criticizes the more inductive approach of many German economists, and states that he provides them with the theoretical framework which they could deductively apply to their totalitarian economy. Keynes should be read as arguing that his theoretical framework would prove more applicable to a totalitarian system than would a theory based on Classical laissez-faire economics. Comments in the Preface which seem to some to support Nazism should be taken, then, as support for the applicability of his theory to such a system. Keynes’ methodological arguments in the prefaces to the other editions, which reflect his overall methodological approach in the General Theory, his familiarity with German economics, his support for liberal economic and political institutions, and his anti-Nazism, all support this alternative interpretation. An earlier version of this paper was presented at the Midwest Economics Association Meetings in Chicago on March 16, 2008.     

The dynamics of economic systems,or how to transform a failed socialist economy

How to transform a failed socialist economy raises questions about the processes of structural and institutional changes, which standard economics is inadequately equipped to study. An economic theory that can study both these processes is suggested and applied to the actual debate of how the transformation should be conducted. Standard notions of institutional roles (R) and organizational structures (S) are seen in a non-standard way as outcomes of two interrelated but distinct evolutions. Comparing different given Rs for their influence on S-evolution throws new light on which R should be the target of the transformation. Compared to standard analysis, the case against socialism on the supply side is strengthened, whereas the case against a redistributive welfare society on the demand side is weakened. S-evolution is shown to require more time and be more difficult to be helped by government than R-evolution. This clarifies several controversial points about the speed and the sequencing of the transformation policies. The study of R-evolution discloses an important cognitive constraint on these policies, which teaching of economics can help to soften. Standard economics, shown to be a special case of the suggested theory, is rehabilitated as the best subject by which such teaching should start.     

A theorist's view of experiments

The paper springs from a position that economic theory is an abstract investigation of the concepts and considerations involved in real life economic decision making rather than a tool for predicting or describing real behavior. It is argued that when experimental economics is motivated by theory, it should not look to verify the predictions of theory but instead should focus on verifying that the considerations contained in the economic model are sound and in common use. It is argued that when theory is motivated by experiments, the theorist should not be hasty in adopting new functional forms but should try to identify the basic psychological themes which are revealed exposed by the experiment. Finally, some critical comments on the methodology of experimental economics are presented.     

西方经济伦理研究中的数理方法述评

从古典经济学时期起,伦理学和经济学就有着千丝万缕的联系,而数理方法在经济学中的应用,必然会影响到与之相关联的伦理学方面的研究。本文剖析了现代西方经济伦理学研究里出现的数理解释现象,追溯其历史渊源,介绍当前数理方法在西方经济伦理研究中的现状和影响,将经济伦理研究中的数理方法归纳为基础数学和统计学方法、经济数学方法、经典博弈论方法和演化博弈论方法、实验的方法以及计算机模拟仿真等方法,并阐述其在公平正义、合作诚信和利他行为的研究中取得的突出成果。通过梳理西方经济伦理研究中的数理方法,可以揭示其在完善经济学和经济伦理学的方法论体系、弥补西方经济学研究伦理不涉的缺陷并为经济伦理学成为一门客观、严密和精确的独立科学学科奠定基础等方面的重要意义。     

博弈论对正统经济学思维方式的冲击

自20世纪40年代博弈论被引入经济学之后,现代经济学在许多领域发生了很大的变化。与此同时,作为工具的博弈论与作为思想的博弈论却出现了一种分离的倾向。在作为工具的博弈论满足经济学家对形式主义模型沉溺的同时,作为思想的博弈论却对正统经济学形成了根基性的挑战。博弈论不仅是一种数学工具,更是一种方法论。它引导着人们彻底重新认识经济世界和人们的经济行为,在这一过程中,正统经济学的思维方式——确定性的经济社会观、理性经济人假设、个体主义原则受到了愈来愈强的冲击。     

The exchange paradigm of constitutional economics: implications for understanding the third sector

This paper reconsiders the exchange paradigm of constitutional economics from the perspective of the theory of the division of labor. According to this theory, human wants can be satisfied by two basic mechanisms—exchange and self-sufficiency. The exchange paradigm of constitutional economics emphasizes the former mechanism while neglecting the latter. Building on major economic theories of the third sector, it is argued that the latter mechanism is more helpful than the former in explaining the existence of third sector organizations. The paper concludes by discussing implications of this argument for the further development of constitutional economics.      

Using Field Experiments to Change the Template of How We Teach Economics

In this article, the author explains why field experiments can improve what we teach and how we teach economics. Economists no longer operate as passive observers of economic phenomena. Instead, they participate actively in the research process by collecting data from field experiments to investigate the economics of everyday life. This change can be shown to students by presenting them with evidence from field experiments. Field experiments related to factor markets, behavioral economics, and discrimination are presented to explain how this approach works across different economic content. The three questions that are highlighted are the following: (1) Why do women get paid less than men in labor markets? (2) How can we use behavioral economics to motivate teachers? (3) What seven words can end third-degree price discrimination?     

New Economic Theories

This paper analyses some of the most important spillovers of recent developments of economic theory into environmental economics. Attention is given to the anlaysis of sustainable economic development paths, where endogenous growth models are used; the implications of environmental dumping and more generally of policies concerning global environmental issues, where new trade theories are very useful; and, the effectiveness of environmental policy instruments when markets are imperfectly competitive, where industrial organisation theory is employed. The paper does not only note recent developments in environmental economics, but also relates these to the previous environmental economics literature. Thus, it can be assessed whether new results actually improve our knowledge of crucial economic and environmental issues.     

从自然资源经济学到可持续经济学

随着物质生活水平的快速提高,人类也面临着诸如森林退化、土地荒漠化、物种多样性丧失以及温室效应恶化等生存环境问题。可持续发展问题日益受到人们的关注,通过经济学的视角来研究可持续发展的可持续经济学得到了快速的发展。本文从经济学的角度界定了自然资源的概念,回顾了经济学对自然资源的研究历程,对自然资源经济学的起源、发展进行了评述;论证了自然资源经济学和可持续经济学的关系,指出在可持续发展问题研究中融合自然资源经济学和环境经济学的必然性,以自然资源经济学和环境经济学为重要元素的可持续经济学是可持续问题经济研究的高级阶段,文章进一步探讨了可持续经济学的分析框架、发展现状及存在的问题。     

论区域经济在国家和地区发展中的作用

区域经济是市场经济条件下国民经济增长的主要动力和源泉,其自身有突出的运行特点、发展规律。通过分析区域经济的内容及模式,可以正确制定促进国家和地区发展的政策和战略,在西部大开发当中,应当更加重视区域经济理论的指导作用。     

解读演化经济学的兴起——兼论演化经济学的现状与未来发展

演化经济学的兴起主要有三个原因:西方主流经济学的范式危机;自然科学的发展;社会科学领域演化思想的积累与发展.演化经济学最近的前沿研究集中于进行演化建模,对复杂性进行测量,讨论技术与制度的协同演化等几个方面.拓展对多时期动态过程的研究,将演化经济学与制度经济学、马克思主义经济学、博弈理论等进行创造性综合,更多关注学科语言的凝炼和理论建模工作是演化经济学的未来发展方向.     

Preference Anomalies,Preference Elicitation and the Discovered Preference Hypothesis

There is wide-ranging evidence, much of it deriving from economics experiments, of ‘anomalies’ in behaviour that challenge standard preference theories. This paper explores the implications of these anomalies for preference elicitation methods. Because methods that are used to inform public policy, such as contingent valuation, are based on standard preference theories, their validity may be called into question by the anomaly data. However, on a new interpretation, these anomalies do not contradict standard theory but are errors in stated preference that can be expected to disappear as people become more experienced in relevant decision environments. We explore the evidence for this interpretation and what implications follow for preference elicitation methodology. JEL classifications: C91, D01, D60, D81, D83, H40     

诺斯制度变迁理论方法论探析:修正的新古典经济学范式

关于诺斯制度变迁理论的方法论，有观点认为它以新古典经济学的“理性人”范式为基点。笔者不同意这种观点，笔者认为它属于修正的新古典经济学范式。这主要表现在三个方面：一、修正的经济人假设；二、非零交易成本假设；三、新古典经济学分析工具的继承。