3.1 new-institutional economics (NIE)
-Roots: Ronald Coase, "The Nature of the Firm" (1937)
Coase 1998 the new institutional economics: AER

The term NIE was coined by Williamson in 1975.

-Williamson Hierarchy (firms) new theory of the firm

• Markets and Hierarchies: Analysis and Antitrust Implications, 1975
• The Economic Institutions of Capitalism, 1985
• The Nature of the Firm: Origins, Evolution, and Development (co-edited with Sidney Winter), 1991
• The Mechanisms of Governance, 1996

-Douglass North's demarcation between institutions and organizations. Institutions are the "rules of the game", consisting of both the formal legal rules and the informal social norms that govern individual behavior and structure social interactions (institutional frameworks).

3.2 economic institutions

North economic institutions, or institutional economics
Companies, financial institutions, mechanism design
North, 1990. Institutions, institutional change and economic performance
Economic institutions, Governance institutions, institutions evolve around the gap of governance, not physical infrastructure
Corruption, functional/dysfunctional institutions
Macroeconomics growth: Aggregate outcomes

3.3 institutional theory

Institutional theory focuses on the deeper and more resilient aspects of social structure. It considers the processes by which structures, including schemas, rules, norms, and routines, become established as authoritative guidelines for social behavior. Different components of institutional theory explain how these elements are created, diffused, adopted, and adapted over space and time; and how they fall into decline and disuse.

DiMaggio and Powell
Isomorphism: mimetic, coercive, normative
sociology (social structure)
Embeddedness, legitimacy
Level of analysis: organizations, group of organ
DV: Organizational form, type of organization
Survival: What happens if you conform to the pressure
Homogeneous within groups

Scott (1995) three pillars: normative, cognitive, regulatory

注：我的理解

这个是根据老师的讲课整理的，但是可以在各类文献中看到影子。现在international business （IB）和strategy文献里面的institutional theory 都指的是和社会学有关sociology (isomorphism, conform to pressure) 讲的是，在同一个社会环境中，企业的趋同性(convergence) 。但是关于老师说的第一点和第二点，我之前不是很清楚。老师的意思是，Williamson New institutional economics(NIE) 和North economic institutions 是有区别的。一方面，NIE 是和old institutional economics(OIE) 相对，OIE是讲企业里面的power stucture之类，而NIE是讲环境对企业的影响（outside-in, from institutions to organizations)。另一方面，north 的制度讲的更多的是经济发展宏观所需的法律、经济制度（rule of law, social capital, protection of property rights, corruption)等等。

我觉得在IB里面，把NIE 和economic institution区分的人不多。其实各派关于"institutions''的理解都非常不同。还有把企业也理解为institutions，现在比较通用的是North关于institutions和organization的区别：institutions是外在环境，企业organizations处在institutional environment 之中。

IB里面Mike Peng 又提出了一个新的概念，叫institutions-based analysis，就是把所有关于制度的分析都放在这一类里面。

BTW，我是做IB的，不是很清楚别的具体领域里面（area study, international relations)如今对于institions的主流理解。欢迎讨论