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North uses the sports analogy of rules of the game to explain institutions as spaces where organizations interact with one another. These rules of the
North uses the sports analogy of "rules of the game" to explain institutions as spaces where organizations interact with one another. These "rules of the game" consist of formal and informal interactions that govern how "teams" (i.e., businesses, governments, nonprofits) and individual "players" are expected to behave. "Rules of the game" are socially devised (and revised) resources & constraints that structure interactions, incentives, and disincentives among political, economic and social relationships. Group of answer choices True False
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