Exchanges are governed by a set of formal institutions (contracts, incentives, authority) and informal institutions (norms, routines, political processes) which are deeply intertwined. However, for the most part, informal institutions are treated as exogenous forces which change the benefits to...

Exchanges are governed by a set of formal institutions (contracts, incentives, authority) and informal institutions (norms, routines, political processes) which are deeply intertwined. However, for the most part, informal institutions are treated as exogenous forces which change the benefits to...

"Sergio G. Lazzarini is the Chafi Haddad Professor of Management at Insper in Brazil. He is the Director of Insper Metricis, a center dedicated to the study of impact management and measurement. Sergio has held visiting positions at Harvard University (2010, 2012), University of St Gallen...