"Institutions are the humanly devised constraints that structure political, economic, and social interaction. They consist of both informal constraints (sanctions, taboos, customs, traditions, and codes of conduct), and formal rules (constitutions, laws, property rights). Throughout history, institutions have been devised by human beings to create order and reduce uncertainty in exchange."
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Original Language: English
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Douglass North. 1991. "Institutions." Journal of Economic Perspectives, 5(1): 97-112; Abstract
https://en.wikiquote.org/wiki/Code_of_conduct
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Code of conduct
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