The complex world of micro-institutions: the illustrative case of hybrids

Claude Menard

Chapter 13 in Handbook on Institutions and Complexity, 2025, pp 263-284 from Edward Elgar Publishing

Abstract: In the complex world of micro-institutions, hybrid organizations deserve special attention because of their rich, multiple, and adaptable configurations that allow them to play a key role in modern market economies. Mainly characterized by the pooling of decision rights as well as some property rights, parties to these arrangements nevertheless remain legally as well as economically distinct entities, which makes the modalities to monitor their interconnectedness crucial. Complexity in this context designates what motivates differentiated organizations to jointly develop transactions and how to successfully do so in an inherently non-linear, non-static environment leading to only partially predictable and/or controllable outcomes. To face the resulting problems of governance, a variety of solutions have been developed that all involve a combination of: (1) relational contracts providing a blueprint to shape cooperation; (2) administrative mechanisms to coordinate and control joint activities; and (3) managerial practices to allow adaptation to ever-changing conditions within which interdependence must operate.

Keywords: Micro-institutions; Hybrids; Organizational complexity; Governance; Relational contracts; Institutional embeddedness (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035309719
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