| 1. | Also trained by Commons, Witte preferred the institutional economics approach to problems.
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| 2. | He is former founding editor of the Journal of Institutional Economics.
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| 3. | This approach sometimes goes under the rubric of New Institutional Economics.
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| 4. | New Institutional Economics is focused on levels two and three.
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| 5. | John R . Commons considered Macleod's work to be the foundation of Institutional economics.
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| 6. | His notion of transaction is one of the most important contribution to Institutional Economics.
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| 7. | He believed that institutional economics added collective control of individual transactions to existing economic theory.
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| 8. | Within the history of economic thought, Veblen is considered the leader of the institutional economics movement.
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| 9. | This book is novel in the use of game theory approach to the study of institutional economics.
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| 10. | Institutional economics is one means by which feminist economists improve upon the " homo economicus " model.
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