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Institutional Diversity and Political EconomyThe Ostroms and Beyond$
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Paul Dragos Aligica

Print publication date: 2013

Print ISBN-13: 9780199843909

Published to Oxford Scholarship Online: January 2014

DOI: 10.1093/acprof:oso/9780199843909.001.0001

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Institutional Design, Ideas, and Predictability

Institutional Design, Ideas, and Predictability

(p.134) 5 Institutional Design, Ideas, and Predictability
Institutional Diversity and Political Economy

Paul Dragos Aligica

Oxford University Press

Chapter 5 replicates the approach of the previous chapter, this time from the micro-level, and uses as an inside window the problem of institutional design. The chapter looks at it through the theoretical lenses highlighting the role of ideas, expectations and predictability in social cooperation, notes the crucial position predictability has in the emergence and the study of institutional order and then explores its implications for the ways we understand the relationship between institutional theory (ideas), institutional theorists and social reality.

Keywords:   institutional design, belief systems, predictability, institutional change, reflexivity, prestige loops

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