Endogenizing Institutions and Institutional Changes
نویسنده
چکیده
This paper proposes an analytical-cum-conceptual framework for understanding the nature of institutions as well as their changes. First, it proposes a new definition of institution based on the notion of common knowledge regarding self-sustaining features of social interactions with a hope to integrate various disciplinary approaches to institutions and their changes. Second, it specifies some generic mechanisms of institutional coherence and change -overlapping social embeddedness, Schumpeterian innovation in bundling games and dynamic institutional complementarities -useful for understanding the dynamic interactions of economic, political, social, organizational and cognitive factors.
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