institutional economics

E886927

economic theory school of economic thought

Institutional economics is a school of economic thought that emphasizes the role of social, legal, and political institutions in shaping economic behavior and outcomes.

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All labels observed (3)

Label	Occurrences
institutional economics canonical	2
Institutional Economics	1
Institutionalist economics	1

How this entity was disambiguated

This entity first appeared as the object of triple T10829296 — resolving that mention is where its identity was fixed. The disambiguator weighed these candidate entities and picked the highlighted one (or “None”, minting a new entity). This is how homonymy is resolved: the same surface form can point to different entities.

NED1 Entity disambiguation (via context triple) gpt-5-mini-2025-08-07

Target entity: institutional economics
Context triple: [Thorstein Veblen, movement, institutional economics]

A. new institutional economics
New institutional economics is a school of economic thought that extends neoclassical economics by emphasizing the role of institutions, transaction costs, and property rights in shaping economic behavior and outcomes.
B. Institute of Economics
The Institute of Economics is a research institute within Nankai University specializing in economic theory, policy analysis, and applied economic research.
C. Institute of Economics
The Institute of Economics is a leading Vietnamese research institution specializing in economic theory, policy analysis, and socio-economic development studies under the Vietnam Academy of Social Sciences.
D. Institute of Economics
The Institute of Economics is an academic unit within the Royal Academy of Cambodia that focuses on economic research and higher education in economics and related fields.
E. Institute of Economics
The Institute of Economics is a higher education and research institution in Skopje specializing in economic studies and analysis as part of Ss. Cyril and Methodius University.
F. None of above. chosen
G. Unsure - the case is ambiguous/there is not enough information to decide.

NED2 Entity disambiguation (via description) gpt-5-mini-2025-08-07

Target entity: institutional economics
Target entity description: Institutional economics is a school of economic thought that emphasizes the role of social, legal, and political institutions in shaping economic behavior and outcomes.

A. new institutional economics
New institutional economics is a school of economic thought that extends neoclassical economics by emphasizing the role of institutions, transaction costs, and property rights in shaping economic behavior and outcomes.
B. Institute of Economics
The Institute of Economics is a research institute within Nankai University specializing in economic theory, policy analysis, and applied economic research.
C. Institute of Economics
The Institute of Economics is a leading Vietnamese research institution specializing in economic theory, policy analysis, and socio-economic development studies under the Vietnam Academy of Social Sciences.
D. Institute of Economics
The Institute of Economics is an academic unit within the Royal Academy of Cambodia that focuses on economic research and higher education in economics and related fields.
E. Institute of Economics
The Institute of Economics is a higher education and research institution in Skopje specializing in economic studies and analysis as part of Ss. Cyril and Methodius University.
F. None of above. chosen

Statements (48)

Predicate	Object
instanceOf	economic theory ⓘ school of economic thought ⓘ
appliedTo	corporate governance ⓘ economic development ⓘ industrial organization ⓘ labor markets ⓘ public policy analysis ⓘ
arguesThat	institutional change affects economic performance ⓘ institutions reduce uncertainty ⓘ institutions structure incentives ⓘ
associatedWith	Douglass C. North ⓘ John R. Commons ⓘ Oliver Williamson ⓘ linked to: Oliver E. Williamson Ronald Coase ⓘ Thorstein Veblen ⓘ Wesley C. Mitchell ⓘ linked to: Wesley Clair Mitchell
contrastsWith	neoclassical economics ⓘ
critiques	assumption of fully rational individuals ⓘ purely individualistic explanations of economic outcomes ⓘ
developedIn	United States ⓘ linked to: United States of America
emphasizes	evolutionary processes in the economy ⓘ historical context of economic processes ⓘ role of institutions in shaping economic behavior ⓘ
focusesOn	economic institutions ⓘ legal institutions ⓘ political institutions ⓘ social institutions ⓘ
hasSubfield	new institutional economics ⓘ old institutional economics ⓘ
includesConcept	bounded rationality ⓘ collective action ⓘ path dependence ⓘ property rights ⓘ transaction costs ⓘ
influencedBy	American pragmatism ⓘ linked to: American pragmatist movement evolutionary theory ⓘ legal realism ⓘ
originatedIn	late 19th century ⓘ
relatedTo	behavioral economics ⓘ economic sociology ⓘ law and economics ⓘ political economy ⓘ
studies	interaction between culture and economics ⓘ interaction between law and economics ⓘ interaction between politics and economics ⓘ
viewsEconomicBehaviorAs	embedded in legal rules ⓘ embedded in political power relations ⓘ embedded in social norms ⓘ

How these facts were elicited

Referenced by (4)

Full triples — surface form annotated when it differs from this entity's canonical label.

Thorstein Veblen → movement → institutional economics ⓘ

Institutional Analysis and Development framework → field → institutional economics ⓘ

Hyman Minsky School of Thought → influencedBy → Institutionalist economics ⓘ

linked to: institutional economics

John R. Commons → notableWork → Institutional Economics ⓘ