Understanding institutional designs within marketing value systems

The authors show how institutional arrangements, which consist of contracti ng, ownership, and social elements, tie together the joint profits, or effi ciency, of the marketing system. They use a criterion of remediable efficie ncy to develop a design framework for institutional arrangements and illust rate the process by designing a recycling system for newspapers. The author s close with an empirical research agenda and extract five institutional de sign principles for managers.