Social Darwinism suggests that in crisis situations leaders have to be replaced by better fitting leaders. An opposing school argues that leaders, based on their personality, are successful in all situations and therefore can master all situations including a crisis. A third view concludes that...

Social Darwinism suggests that in crisis situations leaders have to be replaced by better fitting leaders. An opposing school argues that leaders, based on their personality, are successful in all situations and therefore can master all situations including a crisis. A third view concludes that...

Any legislative framework is likely to generate different institutions or norms of behavior which the legislator occasionally could have never foreseen. I suggested a general pattern, on which inefficient, if stable, norms or institutions called institutional traps would form.

The theory of institutional traps, i.e. ineffective but stable institutions or behavior norms, is develope din connection with economic reforms. Mechanisms are described that cause a system to get into a trap and ways of going out of it are analyzed. Concepts of transformation costs and...