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INSTITUTIONAL ENTROPY IS A PROCESS WHICH AN INSTITUTION MAY UNDERGO AS IT GROWS OLDER, CAUSING IT TO FUNCTION AT A LOWER LEVEL AND LESS EFFECTIVELY. THE DATA SUPPLIED BY 300 LARGE CREDIT UNIONS GAVE NO INDICATION THAT OLDER OR NONPROFIT INSTITUTIONS WERE LESS EFFICIENT THAN SIMILAR YOUNGER INSTITUTIONS.

This paper proposes a model of "institutional gaming," in which intentional agents pursue their projects through games of a looser & deeper sort. Over many interactions, they develop formal institutions & informal norms concerning appropriate ways of maneuvering within them & expanding upon them. Agents shift among several different institutions governed by different norms addressing each of their many different concerns. No one agent is decisive, either negatively or positively, for long. Such a model of intentional goal-seeking agents, operating through & on history, & developing shared norms as an aid to doing so, makes tolerably good sense of much that modern institutionalists want to tell us. 39 References. Adapted from the source document.