Abstract
There has been much debate and confusion over a name for the field here referred to as neoinstitutional economics. Some years ago I made a distinction between neoinstitutional economics and the new institutional economics (Eggertsson 1990: 6). I labelled a revival of the old American institutionalism as the new institutional economics, and applications of basic methods of modern economics as neoinstitutional economics. In assigning the label neoinstitutional economics, I considered whether a particular study or a research programme assumed rational choice. After applying this test, I concluded, prematurely, that studies which assume bounded rationality differ qualitatively from studies based on rational choice.
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