This paper examines the way the institutional economics of Radhamakal Mukerjee can inform modern nonprofit economics. A brief survey of Mukerjee's work highlights several elements of his theory that yield useful implications understanding the nonprofit sector. First, Mukerjee's theory implies...

Third sector organisations play a prominent role in rural development. Yet, such organisations have been largely neglected by existing economic research. This paper examines the potential role of standard theories of the third sector and collective action in explaining the motivations to form...

Nonprofit organizations are arguably the fastest growing and most dynamic part of modern market economies in democratic countries. This Handbook explores the frontiers of knowledge at the intersection of economics and the management of these entities. The authors review the role, structure and...

Purpose – The paper is aimed at examining the correspondence between the demand-side and supply-side determinants of the existence of non-profit firms. Design/methodology/approach – The case study approach is used to compare the demand-side and supply-side determinants for a single...

This paper develops a new institutional economics account of the broad issues of governance in European rural development. It is argued that rural governance is determined by rural development stakeholders' property rights which in turn reflect their interests in rural development. On this...

The paper explores the way the work of classic institutionalist authors can inform modern nonprofit economics. From the Veblenian perspective, nonprofit organization is explained as an institutional consequence of the pecuniary-industrial dichotomy. The Ayresian theoretical system is used to...

According to the institutionalist position, institutional change is progressive to the extent that ceremonial behavioral patterns are replaced by instrumental ones. This article shows how the ordonomic research program operationalizes and explains the feasibility of progressive institutional...

It has long been recognized that voluntary organizations contribute to the economic development of rural areas in all parts of the world. This paper argues that the developmental role of voluntary organizations in rural areas can be explained in terms of a rurality-specific transaction cost that...

It has long been recognized that voluntary organizations contribute to the economic development of rural areas in all parts of the world. This paper argues that the developmental role of voluntary organizations in rural areas can be explained in terms of a rurality-specific transaction cost that...

Purpose: The stakeholder theory encompasses instrumental and normative varieties whose mutual relationship remains unclear and exhibits a classic tension between rational self-interest and moral motivation. The purpose of this paper is to develop a strategy for navigating this tension....