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…
Tag: formal institutions
Response to governmental COVID-19 restrictions: the role of informal institutions
Summary of JOIE article ( First View 26 April 2021) by Katarzyna Bentkowska Warsaw School of Economics, Institute of Markets and Competition, Warsaw, Poland. The full article is available on the JOIE Website. In 2020, countries unexpectedly faced a new challenge—the COVID-19 pandemic—and they had to take countermeasures to address it. The levels of restrictions imposed varied across countries. However, implementing restrictions…