This authoritative series brings together the most significant papers published by leading economists and social scientists in the rapidly developing field of New Institutional Economics. The selection includes theoretical papers as well as applications and empirical studies. It represents the diversity of methodologies used for exploring the fundamental questions of the nature and status of institutions and organizations in market economies. The seven volumes in the series cover the main aspects of research in the field, beginning with an overview of its analytical foundations in Volume 1. The subsequent volumes consider issues in transaction costs and property rights, the nature and role of contracts, the alternative modes of organization, the role and nature of modern corporations, and the political economy of institutions. The series concludes with a review of some major challenges and controversies. This comprehensive series will be an invaluable guide for scholars in economics, social sciences, managerial sciences and law.