Sentence examples for functioning of smart institutions from inspiring English sources

The use of control theory provides a useful general approach for studying the overall functioning of smart institutions, for it is amenable to being developed in as elaborate or complex a manner as is desired, just as it is possible to use it to simplify institutional analysis.

The key difference between the actuator and the social feedback groups is in their role within the overall system of smart institutions.

A theory of smart institutions, consequently, presents distinct advantages over traditional institutional analysis.

Embedded in the theory of smart institutions based upon a control process is the idea that their relevant steering institutions function as automatic controllers do in control process theory, where the term automatic refers to the fact that they initiate action based on discrepancies perceived between the desired outcome and the actual outcome of the system.

In the context of smart institutions, the controller is a complex or set of economic, social and political institutions, which we call the steering institutions.

We now turn to the question of the methodology for how we might examine the exertion of control by the steering institutions in a system of smart institutions.

Our theory of smart institutions makes this precise by drawing attention to the process that an institution need employ to effect a desired outcome.

To this static description, we must add the dynamic linkages that are integral to our theory of smart institutions.

Our theory for smart institutions spans the social sciences and emphasizes a dynamic and circular flow of information; in a system of smart institutions, the steering institutions interact with their environment to effect economic, social and political change; the impact of such changes creates feedback that recursively affects the behavior and the overall design of the system.

Similarly, depending on the context under analysis, we could consider an array of steering institutions, multidimensional signals, complex forms of output and sophisticated methods of feedback in the construction of a model of smart institutions.

The idea of fuzzy control as the basis of smart institutions forms a useful link between the first-best ideal and the second-best reality.