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…
Tag: informal institutions
Determinants of Social Norms I – the Role of Geography
Summary of JOIE Article (07 December 2023) by Stefan Voigt, Institute of Law & Economics, University of Hamburg, Germany. The full article is available on the JOIE website. For a long time, scholars in institutional economics were primarily concerned with formal institutions such as state-made and -enforced laws. This has completely changed over the last…
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…
Fighting on Christmas: Brawling as Self-Governance in Rural Peru
Summary of JOIE article (First View, 19 September 2019) by Edwar E. Escalante, Lecturer of Economics, Department of Accounting, Economics, and Finance at Angelo State University, and Raymond J. March, Assistant Professor, Agribusiness and Applied Economics, North Dakota State University. The full article is available on the JOIE website. If, like Frank Constanza, you have ever felt something…