Read full paper at: http://www.scirp.org/journal/PaperInformation.aspx?PaperID=53593#.VMnk8yzQrzE Author(s) Prateek Goorha * , Jason Potts Affiliation(s) School of Economics, Finance and Marketing, RMIT University, Melbourne, Australia . ABSTRACT We propose considering an institutional context as a fuzzy control system, and, thereby, the role of any given institution to be akin to a database of fuzzy rules. We develop this analogy for a hierarchical institutional system and provide an overview of the method for designing the database structure using a hierarchical system of linguistic rules. This, we submit, is as an interesting way of looking at institutional development with nested institutions. KEYWORDS Institutions , Context , Rules , Subjectivity , Control Cite this paper Goorha, P. and Potts, J. (2015) Defining “Context” with Institutions as Fuzzy Rule Bases. Theoretical Economics Letters , 5...
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