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topics:institutions [2026/03/18 10:00] – admintopics:institutions [2026/03/18 10:44] (current) – admin
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-<WRAP catbadge blue>General Topics</WRAP>+<WRAP catbadge blue>Institutions & Markets</WRAP>
  
 ====== Institutions ====== ====== Institutions ======
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 updated: 18 March 2026 updated: 18 March 2026
 sensitivity: medium sensitivity: medium
-ai-disclosure:   Claude Sonnet 4.6 (Anthropic) assisted with topic structuring, editorial revision, reference verification, and formatting; reviewed by Vitaliy Soloviy, 17.03.2026+ai-disclosure:  . Claude Sonnet 4.6 (Anthropic) assisted with topic structuring, editorial revision, reference verification, and formatting; reviewed by Vitaliy Soloviy, 17.03.2026
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 **Institutions vs. organisations** \\ **Institutions vs. organisations** \\
 Institutions are the rules of the game. Organisations are groups of individuals bound by a common purpose who operate within those rules. A regulatory body is an organisation; the regulations it enforces are institutions. Although organisations can be considered formalised institutions, institutions are more than organisations — their main characteristic is their permanence and the expectations they embed in practice.((North, D. C. (1990). //Institutions, institutional change and economic performance.// Cambridge University Press.)) Institutions are the rules of the game. Organisations are groups of individuals bound by a common purpose who operate within those rules. A regulatory body is an organisation; the regulations it enforces are institutions. Although organisations can be considered formalised institutions, institutions are more than organisations — their main characteristic is their permanence and the expectations they embed in practice.((North, D. C. (1990). //Institutions, institutional change and economic performance.// Cambridge University Press.))
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-<WRAP distinction> 
-**Regulatory sandboxes vs. regulatory innovation experiments** \\ 
-Sandboxes provide temporary rule modifications so that innovators can test solutions within a protected space. Regulatory innovation experiments are designed to test new regulatory approaches themselves, generating evidence about how rules could be improved.((Bauknecht, D., & Kubeczko, K. (2024). Regulatory experiments and real-world labs. //GAIA//, 33(S1), 44–50. https://doi.org/10.14512/gaia.33.S1.7)) 
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