Abstract:

We suggest a new approach to assessment of institutional quality - the institutional option concept. It’s based on modern institutional theory principles and new problem-oriented research paradigm. This viewpoint reveals the role of institutions in decision making of economic actors. We assume that institutions help actors to find different de jure or de facto variants of problem solving. It allows us to implement problem-oriented approach to institutions quality assessing. We develop new quantitative assessing model, based on matrix methods and conclude with practical value of the concept to show its advantages.