ABSTRACT
The aim of this chapter is to provide a theoretical analysis of the bioeconomy phenomenon in an institutional context. Numerous stakeholders, networks of transactional connections, and the context of the bioeconomy’s dependence on the community of the ecosystem and natural resources make the reference to the institutional trend justified. The chapter analyses selected contexts of formal institutions referring to the specifics of the common pool resources on which the bioeconomy is based, of the transaction costs emerging in the bioeconomy and the possibilities of hybrid arrangements that arise as a result, as well as the polycentricity of bioeconomy structures. Reference is also made to the context of informal institutions, and specifically to the evolution of transformation value towards an economic paradigm in which goals are defined, taking human and social needs and planetary boundaries into account.
