It is now widely recognised that institutions play a critical role in economic performance and development. In the 1990s both Ronald Coase and Douglass North were awarded Nobel prizes for their pathbreaking work on institutions. Critical Studies in Economic Institutions brings together cutting-edge analytical and applied research on the role of institutions in modern economic life. It combines work from economics and allied disciplines that has helped us understand the way that real world institutions work. The series addresses specific types of institution, such as the state and the firm, as well as key concepts that pervade all types of institution, such as incentives, trust, routines and culture.