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adverse selection alchian alliances asset specificity bounded rationality checks and balances classification of institutions coase coase theorem coasean bargaining collective action commercial law common value commons concessions-type contracts contract enforcement contractual governance corporate corporate governance debt repudiation democracy dispute resolution diversifications dominant strategy economic development economic governance efficiency efficiency-revenue tradeoff emergence of institutions entrepreneurship externalities extralegal enforcement firm performance franchise governance mechanisms government debt hidden action hold-up inclusive institutions incomplete contracts industrial organization institutional design inter-organizational relations legal fiction legal structure make-or-buy median voter theorem merchant communities nash bargaining natural monopoly network industry odious debt oligarchy open access optimal reserve price organizational change pfi pigouvian tax pivotal institutions pivotal politicians political strategy ppt model principal-agent model private information private legal system private ordering private signal property rights public contracting public good provision public service provision regulation relational governance rent extraction-efficiency tradeoff revenue equivalence second-price sovereign debt sovereign immunity state capacity stateless commerce stateless exchange taxations taxes theory of the firm trade trade associations transaction costs transnational customs transnational usage winner’s curse