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1、JournalofEconomicLiteratureVol.XXXVIII(September2000)pp.595–613Williamson:TheNewInstitutionalEconomicsTheNewInstitutionalEconomics:TakingStock,LookingAheadOLIVERE.WILLIAMSON11.Introductionvelopment(1994,p.75).Inconsidera-tion,however,ofthe“splendidplausi-OPENMYDISCUSSION
2、ofthenewin-bilityoferror”towhichLordActonre-Istitutionaleconomicswithaconfes-fers,2weneedtosortthesheepfromsion,anassertion,andarecommenda-thegoats.Thatisaccomplishedbyask-tion.Theconfessionisthatwearestillingeachwould-betheorytoadvancere-veryignorantaboutinstitutions.Th
3、eas-futableimplicationstowhichthedatasertionisthatthepastquartercenturyareapplied.haswitnessedenormousprogressintheR.C.O.Matthews,inhispresidentialstudyofinstitutions.Therecommenda-addresstotheRoyalEconomicSocietytionisthat,awaitingaunifiedtheory,wein1986,pronouncedthat“
4、theeconom-shouldbeacceptingofpluralism.icsofinstitutionshasbecomeoneoftheChiefamongthecausesofignoranceliveliestareasinourdiscipline”(Mat-isthatinstitutionsareverycomplex.thews1986,p.903).Suchapronounce-Thatneoclassicaleconomicswasdismis-mentwasasurprisetomostofthepro-si
5、veofinstitutionsandthatmuchofor-fession.Hadn’tinstitutionaleconomicsganizationtheorylackedscientificam-longsincebeenrelegatedtothehistorybitionshavealsobeencontributingofeconomicthought?Whencethevitalityfactors.Astoprogress,thatiswhattowhichMatthewsmadereference?mostofth
6、ispaperisabout.TherebeingMatthews’responsewasthatthenewmanyinstructivelensesforstudyinginstitutionaleconomics(NIE)turnedoncomplexinstitutions,pluralismiswhattwopropositions.First,“institutionsdoholdspromiseforovercomingourmatter”;andsecond,“thedeterminantsignorance.ofins
7、titutionsaresusceptibletoanaly-Speakingformyself,Isubscribetosisbythetoolsofeconomictheory”JonElster’sviewthatweworkpredomi-(Matthews1986,p.903).ThesecondofnantlyonpartialmechanismsrathertheseiswhatdistinguishestheNIE,itthangeneraltheoriesatthisstageofde-beingthecasethat
8、institutionalecono-mistsofallkinds—oldandnew—are1UniversityofCalifornia,Berkeley.owilliam@haas.berkeley