Understanding the Dynamic Process of Institution Change - A Generalized Institution Dynamic Change Model

For nearly half a century, existing studies on institutions and institutional change have produced a large number of results from different perspectives and concepts, however, existing studies still lack a unified dynamic framework. In this paper, based on the existing research, a generalized institution dynamic change model (GIDC) containing four components: environment setting, individual utility function setting, intergroup cooperation setting, and central planner setting is constructed based on a consistent microfoundation, in which the various dimensions involved in institutional change are portrayed in detail, providing a complete theoretical framework and model for the study of institutional economics