The two major methods of explaining economic institutions, namely by strategic choices or by (indirect) evolution, are compared for the case of a homogenous quadratic duopoly market. Sellers either can provide incentives for their agents to care for sales (amounts) or evolve as sellers who care...

This paper is based on the findings of empirical research conducted in 110 Slovenian companies. Using statistical methods, we examine the effect of the EFQM Excellence Model on the institutionalization of total quality management (TQM) tools and approaches, as well as financial results to...