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Journal of Theoretical Politics, Vol. 1, No. 2,
131-147 (1989)
DOI: 10.1177/0951692889001002002
Studying Institutions
Some Lessons from the Rational Choice Approach
Kenneth A. Shepsle
This article examines recent developments in a literature referred to as `the new institutionalism'. After reviewing some of the consequences for the study of institutions of the behavioral revolution and the elaboration of Arrovian theories of social choice, the author develops the theory of structure-induced equilibrium and explores the two sides of the institutional coin - an examination of the consequences of institutional structure and an explanation of the development of institutional structure.
Key Words: institutions • rational choice • political economy • formal political theory • structure
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