The new institutional economics¶
Williamson, O. E. (2000). The new institutional economics: Taking stock, looking ahead. Journal of Economic Literature, 38(3), 595-613.
Cited by¶
1 citation across 1 artifact.
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Primes¶
- Institutional Lag
- The framework compresses the pattern of regulatory dysfunction (rules lagging reality) into a structured diagnosis, drawing on Williamson's (2000) four-level framework for institutional analysis: identify the fast-changing condition, the institution whose rules are now stale, the lag duration, and which catch-up mechanism is available (legislative, regulatory, administrative, or market-based).
This sourceDevelops a four-level framework for institutional analysis (embedded informal institutions, formal rules, governance, resource allocation) operating at different timescales, providing the diagnostic structure for identifying which institutional layer lags external conditions.
- The framework compresses the pattern of regulatory dysfunction (rules lagging reality) into a structured diagnosis, drawing on Williamson's (2000) four-level framework for institutional analysis: identify the fast-changing condition, the institution whose rules are now stale, the lag duration, and which catch-up mechanism is available (legislative, regulatory, administrative, or market-based).
Verification¶
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