New Institutional Econometrics: The Case of Contracting and Organizations Research

36 Pages Posted: 7 Apr 2005

See all articles by Michael E. Sykuta

Michael E. Sykuta

University of Missouri at Columbia - Division of Applied Social Sciences

Date Written: April 7, 2005

Abstract

New Institutional Economics is characterized by its real-word orientation and empirical focus. Nowhere is this broader scope more evident than in microeconomic theories of firms and markets. NIE has led researchers not only to crack open the black box of production known as the firm, but also the market itself, examining the structures of individual transactions and their implications for firm and market performance. The result is a burgeoning field of research on the causes and consequences of different modes for governing the allocation and coordination of resources in an economy. The broad array of questions addressed and data employed require NIE researchers to be flexible in their choice of econometric methods. The purpose of this paper is to provide an overview of econometric techniques appropriate to NIE research and some of the empirical and theoretical challenges facing scholars in this field.

Keywords: contracting, econometric methods, empirical research, new institutional economics, organization

JEL Classification: C0, D2, L1, L2

Suggested Citation

Sykuta, Michael E., New Institutional Econometrics: The Case of Contracting and Organizations Research (April 7, 2005). Available at SSRN: https://ssrn.com/abstract=700654 or http://dx.doi.org/10.2139/ssrn.700654

Michael E. Sykuta (Contact Author)

University of Missouri at Columbia - Division of Applied Social Sciences ( email )

143 Mumford Hall
Columbia, MO 65211
United States
573-882-1738 (Phone)
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