Jaramillo, Miguel (2016). Instituciones, normas sociales y comportamiento. En GRADE. Investigación para el desarrollo en el Perú: once balances. Lima: GRADE.

Are institutions having the effect that we intended? In recent years, the economics literature has revealed the role that incentives and non-material motivations play in affecting the behavior of economic agents. While some actions are performed due to their intrinsic value, some are carried out because of the information they convey about the actor, and still others are conducted to reward or to punish other people for their actions. These motivations mediate and often change the expected effects of institutions designed to guide the behavior of agents; in particular, they can affect the impact of incentive systems, penalties, and monitoring mechanisms implemented within organizations, as well as the results of laws and public policies. In this article, we briefly review what has been learned about these issues in international studies and outline a research agenda for Peru.