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Why do institutions emerge, operate, evolve and persist? Institutional Choice and Global Commerce elaborates a theory of boundedly rational institutional choice that explains when states USE available institutions, SELECT among alternative forums, CHANGE existing rules, or CREATE new arrangements (USCC). The authors reveal the striking staying power of the institutional status quo and test their innovative theory against evidence on institutional choice in global commerce from the nineteenth through the twenty-first centuries. Cases range from the establishment in 1876 of the first truly international system of commercial dispute resolution, the Mixed Courts of Egypt, to the founding and operation of the General Agreement on Tariffs and Trade, the World Trade Organization, and the International Accounting Standards Board. Analysts of institutional choice henceforth must take seriously not only the distinct demands of specific cooperation dilemmas, but also the wide array of available institutional choices

This paper presents an experimental study on the ability of human groups to escape the tragedy of the commons through institutional change. It shows that the groups identify institutional change as a means of resolving social dilemmas and are ready to apply it even if the change requires an unanimous vote. At the same time, the groups who were given the right to change the rules performed poorer on average than the control-groups. This result stands in contradiction to elementary economic reasoning as well as the results of previous experimental studies.

"Aftershocks was written in the midst of the deepest economic crisis since the Great Depression. Although it would be premature to presume to identify the repercussions of the crisis, it is clear that it will have profound aftershock effects in the political, economic, and social spheres. The book contains essays based on semi-structured interviews with leading scholars, European politicians and representatives from the world of business. They reflect on the origins of the crisis as well as the possible social, economic, and political transformations it may engender."--Publisher's description

Negretto provides the first systematic explanation of the origins of constitutional designs from an analytical, historical and comparative perspective. Based on analysis of constitutional change in Latin America from 1900 to 2008 and four detailed case studies, Negretto shows the main determinants of constitutional choice are the past performance of constitutions in providing effective and legitimate instruments of government and the strategic interests of the actors who have influence over institutional selection. The book explains how governance problems shape the general guidelines for reform, while strategic calculations and power resources affect the selection of specific alternatives of design. It emphasizes the importance of events that trigger reform and the designers' level of electoral uncertainty for understanding the relative impact of short-term partisan interests on constitution writing. Negretto's study challenges predominant theories of institutional choice and paves the way for the development of a new research agenda on institutional change