Economic Analysis: Theory and Practice

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Economic Analysis: Theory and Practice

24(327) - 2013 June

Metaphor and analogy in institutional theory: birth defect or driving axle?

Vol. 12, Iss. 24, JUNE 2013

Available online: 24 June 2013

Subject Heading: METHODS OF ANALYSIS

JEL Classification:

Frolov D.P. Doctor of Economic Sciences, Professor, Head of the Department of Marketing and Advertising, the Volgograd State University
ecodev@mail.ru

Lavrentyeva A.V. Analyst of the Department of Support of Scientific-Research Works, the Volgograd State University
lavra.ne@mail.ru

In the article a critical review of the physical and biological metaphors in institutional economic theory are presented. It is proved that the physical (including mechanistic) analogy is most adequate for associative characteristics of statics and kinetics of institutional systems and biological - figurative descriptions of their evolution.

Keywords: metaphors, institutionalism, institutions, effect of gauge, vacuum field, impurity, niche modeling, transplantation, genetics, evolution

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ISSN 2311-8725 (Online)
ISSN 2073-039X (Print)

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