Economic Exchange and Social Exchange : Micro-Macro Relation in Institutional Economics

摘要

Since the last decade of the twentieth century the concept of u22social exchangeu22 has been adopted by several economists and sociologists as a key concept to bridge economics and sociology. This paper applies the authoru27s theory of u22double recognition (of norms and interest)u22 (Yagi 2001) to u22social exchangeu22 and argues that institutional economists can use this concept in the micro-level analysis for the functioning of economic institutions.