Types of institutions as patterns of regulated behaviour

Res Publica 10 (3):207-231 (2004)
Nowadays, neo-institutionalistic approaches are prominent in economics, political science, the science of public administration and sociology. There is a general complaint about the vagueness of the concept of institutions and the apparent disparity of phenomena falling under it. This article shows how institutional legal theory provides a typology of institutions as sets of rules and corresponding patterns of regulated behaviour that can help to avert much confusion. The typologys usefulness is tested by applying it to an array of private governance structures distinguished by transaction cost economics.
Keywords governance  institution  institutional legal theory  legal person  neo-institutionalism  organization  rules of the game  transaction cost economics
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