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Chain Governance and Institutions in Agribusiness Dr. Xiaoyong Zhang, LEI, Wageningen UR Xiaoyong.******@ Table of Content ? Institutions ? Contracts ? Chain Governance ? Governance Structure in Agri-food Supply Chain Zhang and Aramyan, 2009 Nobel Price Laureates in Institutional Economics ? Douglass North (1993): Institutions are ?the Humanly devised constraints that struct ure policy, economic and social interaction. ? Elinor Ostrom (2009): ?For her analysis of economic governance, especially mo ns?. ? Oliver Williamson (2009): ?For his analysis of economic governance, especiall y the boundaries of the firm?. Williamson: The New Institutional Economics Level Level Level Level Frequency Frequency Frequency Frequency (years) (years) (years) (years) Core elements Core elements Core elements Core elements Purpose Purpose Purpose Purpose Level 1 Level 1 Level 1 Level 1 Social theory Social theory Social theory Social theory 100 to 1000 100 to 1000 100 to 1000 100 to 1000 Embeddedness: informal Embeddedness: informal Embeddedness: informal Embeddedness: informal institutions, customs, traditions, institutions, customs, traditions, institutions, customs, traditions, institutions, customs, traditions, norms, religion norms, religion norms, religion norms, religion Often non Often non Often non Often non- ---calculative, calculative, calculative, calculative, spontaneous spontaneous spontaneous spontaneous Level 2 Level 2 Level 2 Level 2 Economics of Economics of Economics of Economics of Property Property Property Property rights/political theory rights/political theory rights/political theory rights/political theory 10 1010 10- ---100 100100 100 Institutional Environment: formal Institutional Environment: formal Institutional Environment: formal Institutional Environment: formal rules of the game esp. property rules of the game esp. property rules of the game esp. property rules of the game esp. property (polity, judiciary, bure