Claude Ménard,Professor of Economics and Director, Center for Analytical Theory of Organizations and Markets (ATOM), University of Paris Panthéon-Sorbonne, France --This text refers to the Paperback edition.

This outstanding book, now available in paperback, presents new original contributions from some of the world's leading economists including Ronald Coase, Douglass North, Masahiko Aoki, Oliver E. Williamson and Harold Demsetz. It demonstrates the extent and depth of the New Institutional Economics research program which is having a worldwide impact on the economics profession.

The contributors lay out the fundamental dimensions of the research program with special emphasis on the interaction between institutional factors, both formal and informal, and the performance of different arrangements that organize transactions. After examining the foundations of New Institutional Economics and honoring Ronald Coase's contribution to the field, they present controversial and conflicting views on the sources of growth. They place special emphasis on organizations and transactions, focusing on issues of trust, corruption, enforcement of contracts and modes of organization. Written by an eminent group of scholars, Institutions, Contracts and Organizations is an important landmark in the development of New Institutional Economics.