The aim of this arti cle is to show that the New Insti tuti onal Economics is an interdisciplinary stream combining economics, law, organizati on theory, politi cal sciences, sociology, and anthropology. The main theories which are part of the New Insti tuti onal Economics are: Agency Theory,...

Bernheim and Whinston (1986) show that, in a common agency problem without budget constraints, the set of Nash equilibria with truthful strategies (TNE), the set of coalition-proof Nash equilibria (CPNE), and the principal-optimal core of the underlying coalitional game exist and are all...

The term “liberty of contract” is usually associated with the doctrine that the due process clause of the United States Constitution prohibits or should prohibit the State from regulating contracts between private individuals. Many libertarians and free-market advocates embrace the liberty...

Purpose – This paper develops a discussion for the shifting of focus of corporate executives from agency theory to stakeholder theory.Design/methodology/approach – This study entails a literature review of the topic area.Findings – The findings show that there is much benefit and...

Purpose – This paper develops a discussion for the shareholder influence on board of directors and CEO remuneration of public listed corporation.Design/methodology/approach – This study entails Australia, The United States of America and The United Kingdom.Findings – The findings show that...

This study extends research on the determinants of performance by examining the effect of compensation scheme and perceptions of task attractiveness on team performance. In a laboratory experiment all participants completed a cognitively difficult task both individually and in teams of three...

The German Basic Law is open for an interpretation that would allow the Constitutional Court to test the normative adequacy of most statutes. If the court does, it could be modelled as the supervisor of the legislator, i.e., of the agent of the people. The model predicts collusion between the...

The use of agent-based modeling (ABM) has recently been extended to the study of natural resource management and land-use and land-cover change. Many ABM applications have been at a conceptual and abstract level, which helps scholars to recognize how macro patterns can emerge from simple rules...

Purpose: We address the 'economics/cross-cultural management interface,' showing that bi-polar value perceptions fit into an agency model of an economy. Design: Modern views of economic processes have moved away from the traditional view of closed systems, with a tendency to cite them as open...

Recently, Aoki proposed the concept of substantive institutions which relates outcomes of strategic interaction with public representations of equilibrium states of games. I argue that the Aoki model can be grounded in theories of distributed cognition and performativity, which I put into the...