The Regulatory Span of (Formal) Institutions: Essay Inspired by Klammer & Scorsone (2022)

Wilfred Dolfsma

Journal of Economic Issues, 2023, vol. 57, issue 4, 1355-1359

Abstract: Formal institutions, most prominently laws, impact society and also the economy by changing actors’ behavior. How that impact can be conceptualized is in need of more elaboration. Klammer & Scorsone’s (2022) recent publication opens avenues on how to understand the ways in which institutions can over-instruct, under-instruct and ambiguously instruct the behavior of actors. Sources of and direction for institutional change can then be better understood.

Date: 2023
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DOI: 10.1080/00213624.2023.2273183

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