Summary of JOIE article by Christos A. Makridis, W.P. Carey School, Arizona State University, Tempe, AZ, USA, and Joshua Ammons, Stephenson Institute for Classical Liberalism, Wabash College, Crawfordsville, IN, USA. The full article is available on the JOIE website. Generative AI models like large language models (LLMs) are transforming content creation, but in ways that the…
Author: Nikhilesh Sinha
Nikhilesh Sinha teaches courses at the Hult International Business School London, where he is also a Research Fellow. While his primary discipline is economics, his research draws on the wider social sciences and is focused on issues facing the poor in developing countries, particularly in Asia and Africa. He has published most recently on rental housing and on the 2010 Microfinance Crisis in India.
Elinor Ostrom Prize 2025 Shortlist
About the Prize: The Elinor Ostrom Prize has been established in honour of the late Nobel laureate Elinor Ostrom (1933-2012), who was an enormously creative scholar and an outstanding pioneer of the interdisciplinary field of institutional research.* Her most famous work focused on the problem of managing and maintaining common-pool resources, but she also applied her ideas to problems of political governance…
Understanding Masahiko Aoki’s Comparative Institutional Analysis
Summary of JOIE article by Kazuhiro S. Taniguchi, Faculty of Business and Commerce, Keio University, Tokyo. The full article is available on the JOIE website. This paper examines the core features of Masahiko Aoki’s Comparative Institutional Analysis (CIA) by tracing its methodological foundations and conceptualization of institutions within his intellectual trajectory. Aoki (1938–2015) dedicated his career…
The complementarity between automation and flexible labor contracts
Summary of JOIE article by Silvio Traverso (University of Eastern Piedmont, Italy), Massimiliano Vatiero (University of Trento, Italy, and Università della Svizzera italiana, Switzerland) and Enrico Zaninotto (University of Trento, and FBK-IRVAPP-Trento, Italy). The full article is available on the JOIE website. Since the 2000s, numerous European countries have implemented market-oriented reforms aimed at increasing external…
Transactions and Legal Institutionalism: Part II
Summary of JOIE article (24 April 2025) by Geoffrey M. Hodgson International Management, Loughborough University London, London, UK. The full article is available on the JOIE website. Contracts, money, and applications Part I of this article reviews major differences in definitions by six leading authors of the transaction concept (Hodgson, 2025). Part II develops toward a…
Transactions and Legal Institutionalism: Part I
Summary of JOIE article (22 April 2025) by Geoffrey M. Hodgson International Management, Loughborough University London, London, UK. The full article is available on the JOIE website. Prominent scholars have complained of confusion in the literature over what transactions are, and how their costs are measured. This two-part article explores this topic and suggests an alternative…
Toward polycentric federalism: Assessing federal institutional design in multiethnic African states
Summary of JOIE Article by Kaleb Demerew West Texas A&M University, USA, Samson Faboye, University of Johannesburg, South Africa and Sampson Edodi, University of Abuja, Nigeria. The full article is available on the JOIE website. Federalism has long been proposed as a governance solution for multiethnic African states struggling with identity-based conflict. Yet, despite constitutional…
Inclusive national innovation systems: rethinking institutions in the light of inclusion imperatives
Summary of JOIE article (25 February 2025) by Vanessa Casadella and Sofiane Tahi, LEFMI Lab., Picardie Jules Verne University, Amiens, France. The full article is available on the JOIE website. Since the 1990s, national innovation systems (NIS) have been the focus of a large body of literature highlighting the institutional performance of economies and the…
Formal and Informal Institutions: Some Problems of Meaning, Impact, and Interaction’ – A Summary
Summary of JOIE article (10 February 2025) by Geoffrey M. Hodgson International Management, Loughborough University London, London, UK. The full article is available on the JOIE website. Institutional research distinguishes between ‘formal’ and ‘informal’ institutions. Largely through the work of Douglass North, this terminology took off in the 1990s. North often associated ‘formal institutions’ with rules…
Walter Lippmann: an institutionalist for our times?
Summary of JOIE article (15 November 2024) by Shaun P. Hargreaves Heap and Paul Lewis, Department of Political Economy, King’s College, London. The full article is available on the JOIE website. Walter Lippmann bestrode the 20th century. He was an award winning journalist who had the ear of every President from Woodrow Wilson to LBJ. He wrote…