Abstract
The political economy (or Public Choice) approach to modern institutional analysis is based on the economic model of human behaviour and on the comparative approach. Compared to the positive analysis which has been generally accepted by now, the policy consequences have been neglected: The constitutional approach concentrates on the individuals' choice of rules which then determines the outcome. The existing economic model of man is deficient in various respects and must be further developed. Survey results on the individuals' evaluation of fairness under various conditions are discussed in order to show the relevance of normative views for the choice of rules.
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