Download This PaperThe Economics of Institutions and the Institutions of Economics
U of Siena Economics Working Paper No. 359
18 Pages Posted: 9 Dec 2002
Date Written: July 2002
Abstract
Some basic tools of modern approach to the "Economic of Institutions" are shown to be useful to develop an "Economics of Economics" that may throw some light on the nature of the "Institutions of Economics". The "over-supply" of mathematics, that characterizes modern Economics, can be explained by the value that mathematical techniques have as screening and as signalling devices. The emphasis, which is placed on the assumption of maximizing behaviour, is claimed to be one of the most typical example of this type of "overproduction". Economic Research may be biased by the economic incentives of Economists.
Individual economists may have incentives to abate screening costs or to signal abilities that may well diverge from the purpose of Economics to explain and to improve the working of economic systems.
JEL Classification: A11, B41, C60, L31
Suggested Citation: Suggested Citation
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