Endogenous dynamics of institutional change
Abstract
A parsimonious set of mechanisms explains how and under which conditions behavioral deviations build into cascades that reshape institutional frameworks from the bottom up, even if institutional innovations initially conflict with the legally codified rules of the game. Specifically, we argue that this type of endogenous institutional change emerges from an interplay between three factors: the utility gain agents associate with decoupling from...
Paper Details
Title
Endogenous dynamics of institutional change
Published Date
Aug 1, 2016
Journal
Volume
29
Issue
1
Pages
5 - 48
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