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Institutions are the rules of the game in a society or, more formally, are the humanly devised constraints that shape human interaction (North,1990:3). Zucker defines Institutionalism as a fundamentally cognitive process (1983:25). In comparison, Immergut argues that the theoretical core of the new institutionalism is the view that there is a tendency for certain arrangements in social life to persist over institutions and for these institutional arrangements to affect not just strategic actions but also the preference formation of social actors (1998:7). Immergut stresses the fundamentals of the concept of institutionalism can be problematic as there are many conflicting definitions and analysis...
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