Abstract
The purpose of the current research is to introduce the New Institutional Economics (NIE) with the focus placed on Bulgarian agriculture. On the one hand, this includes the description of institutional impact on the separate actors, operating within agricultural organizations. On the other hand, attention should be paid to the way in which the transaction costs of different economic agents are measured. Another aspect of great significance for the study is the application of this approach. This means to adjust the specific research frameworks. The article also includes a methodical dimension. Five methods have been presented: (1) a method for evaluation of the impact of institutional change on adaptability; (2) a method for evaluation of institutional alternatives on a micro-level by measuring transaction costs; (3) a method for evaluation of the effects of change in different time periods; (4) a method for evaluation of processes through the number and type of transactions; (5) a method for analysis of the relation between property rights and transactions for assessment of asset specificity. The methods can integrate various types of evaluation of one and the same economic organization (system) in a single analytical framework.
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