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The Economy Of Conventions' Originality And Similarities With Neoinstitutionalism

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  • Mimo Draskovic
  • Dragan Radovic

Abstract

This paper represents an effort to explain the originality of a consensus theory, its similarities and differences with neo-institutional theory. The author discusses the interrelations between the terms convention and institute, trying to determine the overlapping and disciplinary boundaries of the economy of conventions and neo-institutional economic theory. We start from the hypothesis that the above mentioned directions are sufficiently different in terms of form and meaning, but they also have some essential similarities and many mutual points, primarily in terms of a concept.

Suggested Citation

  • Mimo Draskovic & Dragan Radovic, 2012. "The Economy Of Conventions' Originality And Similarities With Neoinstitutionalism," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 8(1), pages 207-222.
    • Handle: RePEc:mje:mjejnl:v:8:y:2012:i:1:p:207-222
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    References listed on IDEAS

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    1. Ch. Bessy & O. Favereau., 2010. "Institutions and Economics of Conventions," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 7.
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