ECONOMICS

摘要

Traditional economic theory is mostly based on markets and market prices in particular - properly formulated and enforced. Considerable economic activities outside the markets, within households, firms associations, agencies and other organizations. It is evident, we need theories to explain why these entities exist and how they work. This is obviously an extension beyond market theory that elucidates the non conventional, rather nontraditional arena of economic governance.rnAccording to the Nobel Committee "2009's Lauriates have been instrumental in establishing economic governance as a field of research: Elinor Ostrom has provided evidence op the rules and enforcement mechanisms that govern the exploitation of common pools by associations of users. Oliver Williamson has proposed a theory to clarify why some transactions take place inside firms and not in markets. Both scholars have greatly enhanced our understanding of non-market institutions".