institutional arrangements at the micro, meso, and macro context levels lead to specialization. Our study deepens the understanding … of how conflicting institutional arrangements affect the emergence of service ecosystems, drawing practical …

increase boundedly rational actors’ utility. The markets-as-institutional-arrangements approach denies that markets maximize or … approach is not adequate because its assumptions contradict reality and each other. In contrast, the markets-as-institutional-arrangements … finds that there are reasons to prefer the political-cultural approach and to interpret the markets-as-institutional-arrangements …