institutionalism

Question 1

3 different ways to look at institutions

Answer 1

1. rational choice
2. historical
3. sociological

Question 2

rational choice

Answer 2

1. institutions are set up by rational actors to maximise utility
2. institutions subsequently constrain the agency of these actors

Question 3

historical

Answer 3

1. has the same principles as rational choice
2. it focuses on how institutions change over time
3. focus on how earlier choices constrain future ones

Question 4

sociological

Answer 4

1. human agents do not exist independently from institutions
2. norms, values and meaning making shape institutions
3. institutions shape norms values and meaning making

Question 5

joint decision trap

Answer 5

situation where national governments are taking decisions every country has a veto and a situation where the status quo will stay when no decision is made. lowest level at which policy works will be accepted, not everyone happy but it is the lowest denominator solution.

Question 6

sunk cost fallacy

Answer 6

costs that have already been made are unrecoverable, but are too valuable to throw away even though changing is very much worth it.

Question 7

switching costs

Answer 7

costs associated with switching to alternative

Question 8

increasing returns

Answer 8

how actors adapt their behaviour to existing institutions and benefit from stability

Question 9

network externalities

Answer 9

more institution is used, more beneficial it is for all users.

Question 10

path dependency

Answer 10

decisions you make now decide the opportunities and decisions you will face later.

Question 11

path deviation

Answer 11

gradual change caused by negative feedback loops. vetos block European integration, desire to change vetoing.

Question 12

path departure of radical change

Answer 12

caused by exogenous shock. eurocrisis steps taken after can be seen as radical change.