"In the "Institutional and Socio-Economics" book series, the economy is studied as a genuinely social system of heterogeneous agents in an institutional context. The series includes a broad range of different methodological approaches, theoretical perspectives and subjects of study. Interdependencies among agents in complex social systems can be studied using evolutionary economic models, as well as institutional economic and simulation studies. Hence, the focus is being laid on approaches that are more explorative than the standard equilibrium analysis; on approaches that allow for complexity; on approaches that consider development, history, institutions, and values.
Thus, we may conclude that institutions are more than just devices for the reduction of transaction costs. From an institutionalist perspective, institutions are the common and collective solutions to social decision problems, particularly social dilemma problems, coordination problems, and collective-good problems. Such solutions require ‘recognized interdependence’ and learned coordination and cooperation, thus a learned culture of a long-run perspective – emerging as the result of a process of interactions. Institutions often are transitory only, part of the ongoing dynamics, adequately modeled possibly as an evolutionary process. Also, they may be instrumental solutions to a social decision problem at first and may degenerate into ceremonial power-and-status-based phenomena later, thus limiting the possibility of further innovation and development.
In a genealogy of economics, the thematic and methodological spectrum of this book series would embrace the history of thought beginning with the classics including great names such as Adam Smith and Karl Marx but also the late classics who already have struggled with issues like complexity, process, historical time, and evolution. In newer times, the spectrum continues with Veblenian, Keynesian, and Post-Keynesian thinking; it would also include works in the traditions of original institutionalist economics, ecological economics, Neo-Schumpeterian thinking, evolutionary economics, and game theory. Social economics and social policy analysis, behavioral economics, complex modeling, system dynamics, and agent-based computational economics would be embraced as well. Such lists, however, can never be exhaustive.
Last not least, institutional and socio-economics deals with the epistemology and substance of values, norms and ethics, value warrants of economic behavior as well as the normative foundations of economics.
This series, thus, stands in the best traditions of plural economic research areas and pluralistic theoretical perspectives. It may be called ’heterodox’, but it shall always be cutting-edge and of high quality.
Enjoy exploring the works of this book series.
University of Bremen
University of Bremen
University of Groningen
University of Hamburg
University of Erfurt
Catholic University of Applied Sciences Cologne
Homepage der Herausgeber:
Prof. Dr. Wolfram Elsner (Editor-in-Chief)
Dr. rer. pol. Torsten Heinrich (Managing Editor)