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Since the publication of Oliver Williamson's &quote;Economic Institutions of Capitalism&quote; in 1985, new institutional economics approaches have increasingly been used to understand strategic challenges. &quote;Economic Institutions of Strategy&quote; (EIS) offers an interconnected set of papers that reviews and extends the economic institutional approach to business and corporate strategy bringing together the disparate strands of new institutional economics-based strategy research in a single comprehensive source. The contributors to this volume focus on new institutional economics' insights regarding diversification, alliances, franchising, geographic location, innovation, and other strategic choices. Each contributor uses either a single influential article - with excerpts reprinted - or a survey of the literature to ask and answer three questions: What is the current state of the art in new institutional economics' contribution to fundamental strategic questions? Where has this approach succeeded most, and what gaps remain?