Institutions define the ‘rules of the game’ in any society. They determine what is right or wrong, influence the thinking and behavior of society’s members, and decide ‘who gets what” in economic terms. It therefore behooves a society to pay close attention to the design of its formal institutions and the evolution of both its formal and informal institutions. We see the research we carry out at the ITSRLab on Institutional Development as being critical to building institutions that provide the greatest good for the greatest number of people.
