Institutional questions have become increasingly prominent in the evaluation of nearly every area of structural policy. The present article shows how formal economic analysis may be brought to bear on the problem of understanding institutions. It begins by reviewing the recent history of thought...

Building on Oliver Williamson's original analysis, the contributors introduce new ideas, different perspectives and provide tools for better understanding changes in the approach to regulation, the reform of public utilities, and the complex problems of governance. They draw largely upon a...