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That kind of "stackable credit" also is a feature of institutions in the state of Washington, says Bergeron.
Here we need to remind ourselves of a characteristic feature of institutions, namely, their reproductive capacity.
However, some theorists, e.g. Jon Elster (1989: ch. XV), argue that formal sanctions, such as punishment, are a necessary feature of institutions.
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More recent work in economics, which is also called institutionalist, attempts to explain features of institutions by emphasizing the costs of transactions, the inevitable incompleteness of contracts, and the problems "principals" face in monitoring and directing their agents (Coase 1937; Williamson 1985; Mäki et al. 1993, North 1990; Brousseau and Glachant 2008).
Finally, "the social bases of self-respect" are features of institutions that are needed to enable people to have the confidence that they and their position in society are respected and that their conception of the good is worth pursuing and achievable.
Similarly, these factors may help to identify the features of institutions that can best adopt CML/GIST-targeted programs and those that may need more time to become an entrenched part of the CML/GIST treatment landscape.
Formal sanctions are certainly a feature of many institutions, notably legal systems; however, they do not seem to be a feature of all institutions.
Another interesting feature of international institutions is that state consent appears to be a possible basis for the legitimacy of international institutions.
Nonetheless the idea of being bound to follow even erroneous decisions is a common feature of many institutions decision-making, and will be the focus of this entry.
High leverage (open and hidden) became a feature of public institutions as well as private.
One central feature of anchor institutions is that they can't move, at least not easily, and that makes them special in a global economy built on capital mobility.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com