"In sociology and organizational studies, institutional theory is a theory on the deeper and more resilient aspects of social structure."
It focuses on the role of institutions in shaping political decisions and the behavior of political actors.
Institutions: The formal and informal arrangements that shape social, economic, and political interactions among individuals, organizations, and governments.
Public Choice Theory: An economic approach to the study of politics that focuses on how individuals make decisions within a political context.
Governance: The mechanisms, processes, and structures through which decisions are made and carried out.
Market failure: When the market fails to allocate resources efficiently, such as with public goods, common goods, and externalities.
Political economy: The study of how economic and political factors interact to shape the distribution of resources and power within society.
Property rights: Legal rights that allow individuals to own and control resources, including land, intellectual property, and financial assets.
Transaction costs: The costs associated with economic transactions, including negotiation, monitoring, enforcement, and search costs.
Rent-seeking: The use of political power to secure regulatory favors, such as subsidies and protectionist policies.
Regulatory capture: When regulatory agencies are co-opted by the industries they are supposed to regulate, leading to policies that favor industry interests over the public interest.
Bureaucracy: The complex structure of government agencies responsible for implementing laws and regulations.
Principal-agent problems: When individuals (principals) hire others (agents) to act on their behalf, but have incomplete information about the agent's motivations or abilities.
Political institutions: Formal and informal rules and norms that structure political behavior, including the constitution, electoral systems, and political parties.
Political culture: The set of attitudes and beliefs that shape political behavior and institutions within a society.
Comparative politics: The study of the similarities and differences between political systems and institutions across different countries and regions.
Democracy: A system of government in which power is held by the people, either directly or through elected representatives.
Authoritarianism: A system of government in which power is held by a single individual or group, without meaningful checks or balances.
Institutional change: The process by which institutions evolve over time, including both intentional and unintentional changes.
Path dependence: The idea that historical events and decisions constrain future political and economic outcomes.
Interest groups: Organizations that seek to influence public policy in their favor, typically representing a specific industry, profession, or social group.
International institutions: Organizations and agreements that shape interactions between countries, such as the United Nations and World Trade Organization.
Bureaucratic view: This view states that public institutions tend to prioritize their own interests over the public's interests, leading to inefficiencies, waste, and corruption.
Principal-agent view: This view posits that public institutions face the problem of aligning the interests of those who control the institution (the "principals") with those who work for it (the "agents"). This problem can lead to information asymmetry, shirking, and other forms of opportunistic behavior.
Rent-seeking view: This view suggests that interest groups seek to capture public institutions in order to gain economic rents, in the form of subsidies, tax breaks, and other forms of privilege.
Capture view: This view argues that public institutions tend to get "captured" by powerful interest groups, such as business associations or labor unions, which then use the institution to push their own agendas.
Public choice view: This view emphasizes the importance of individual incentives in shaping political behavior. It suggests that politicians and bureaucrats are motivated by self-interest and seek to maximize their own welfare, rather than pursuing the "public interest.".
Transaction cost view: This view emphasizes the role of transaction costs, such as information gathering and negotiation, in shaping institutional behavior. It suggests that public institutions tend to be inefficient and slow-moving because of high transaction costs.
Public goods view: This view suggests that public institutions are needed to provide public goods, such as national defense, environmental protection, and public health. It argues that the private sector cannot provide these goods efficiently because of the free-rider problem.
"It considers the processes by which structures, including schemes, rules, norms, and routines, become established as authoritative guidelines for social behavior."
"Different components of institutional theory explain how these elements are created, diffused, adopted, and adapted over space and time..."
"...how structures, including schemes, rules, norms, and routines, become established as authoritative guidelines for social behavior."
"...how these elements are created, diffused, adopted, and adapted over space and time..."
"...how these elements are created, diffused, adopted, and adapted over space and time..."
"...how these elements are created, diffused, adopted, and adapted over space and time..."
"...how these elements are created, diffused, adopted, and adapted over space and time..."
"...how they fall into decline and disuse."
"It considers the processes by which structures, including schemes, rules, norms, and routines, become established as authoritative guidelines for social behavior."
"...deeper and more resilient aspects of social structure."
"It considers the processes by which structures, including schemes, rules, norms, and routines, become established as authoritative guidelines for social behavior."
"...including schemes, rules, norms, and routines, become established as authoritative guidelines for social behavior."
"...become established as authoritative guidelines for social behavior."
"It considers the processes by which structures, including schemes, rules, norms, and routines, become established as authoritative guidelines for social behavior."
"It considers the processes by which structures, including schemes, rules, norms, and routines, become established as authoritative guidelines for social behavior."
"...how these elements are created, diffused, adopted, and adapted over space and time..."
"...the deeper and more resilient aspects of social structure."
"...structures, including schemes, rules, norms, and routines, become established as authoritative guidelines for social behavior."
"...how they fall into decline and disuse."