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Douglass C. North
Researcher at Washington University in St. Louis
Publications - 226
Citations - 102410
Douglass C. North is an academic researcher from Washington University in St. Louis. The author has contributed to research in topics: Transaction cost & Institutional theory. The author has an hindex of 71, co-authored 226 publications receiving 100257 citations. Previous affiliations of Douglass C. North include University of Washington & Illinois Institute of Technology.
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Transaction Costs, Institutions, and Economic History
TL;DR: In this article, the authors propose a general framework for analyzing the changing structure of economies over time, which is what economic history is all about, and suggest its implications for rethinking our views on economic history.
Posted Content
Transaction Costs Through Time
TL;DR: The concept of transaction costs are the costs of measuring what is being exchanged and enforcing agreements over time as mentioned in this paper, and they are all the costs involved in human interaction over time in the larger context of societal evolution.
Posted Content
Economics and Cognitive Science
TL;DR: In this paper, the question of how humans evolve and believe in theories in the face of uncertainty is investigated. But valuable as this model has been for the development of an elegant body of theory it is a very imperfect tool for solving economic problems both at a moment of time but particularly over time.
Book ChapterDOI
What do we mean by rationality
TL;DR: In this paper, the authors argue that if individuals have different theories to explain the world around them, they will make different "rational" choices, and that a dissection of the rationality assumption is essential in order to incorporate much more realistic assumptions to be derived from the diverse mental models that guide human decision-making.
Journal ArticleDOI
Should Transaction Costs be Subtracted from Gross National Product
TL;DR: In the early 1950s Simon Kuznets questioned whether many types of service income in developed countries were misclassified as final income when they were, in fact, a type of intermediate product as mentioned in this paper.