Why most of us focus exclusively on discussing institutions defined within national boarders? Isn't the booming of transnational instituions accompanied with globalization an equally important topic?
No problem, of course we can discuss transnational institutional arrangement such as UN and other international alliances as well. In fact, some economists have work on this topic. And partially because it is the domain of Comparative Economics.
Shleifer: Oliver, you look so funny!
Hart: What funny?
Shleifer: Everything!