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Cover of: The New Institutional Economics of Markets
Ani Guerdjikova

The New Institutional Economics of Markets

Section: Articles
Volume 163 (2007) / Issue 3, pp. 517-525 (9)
Published 09.07.2018
DOI 10.1628/093245607781871363
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  • 10.1628/093245607781871363
Summary
I discuss papers presented at the session The New Institutional Economics of Markets at the 10th ISNIE conference in Boulder, Colorado. Richter [2007] provides a model of a market organization illustrated by the example of the American tobacco industry. Egbert [2007] analyzes the culture of open-air horse markets in Germany. Haucap, Pauly, and Wey [2007] discuss why the inefficient legislation regulating the German labor market has proved so stable and difficult to reform. I suggest possible extensions to the model suggested by Richter [2007] and discuss them, based on the case studies provided by the other two papers. (JEL: D 02)