The mainstream new institutional economists takes transaction costs as the core to analyze the evolution of the economic system from equilibrium to non-equilibrium to a new equilibrium, namely the process of institutional change. This kind of analytical framework relies too much on the concept of transaction costs. Due to the inherent problems in the concept of transaction costs, this theoretical framework is not perfect. However, through a detailed analysis of the issues involved in this

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... ork analysis process, key variables such as subject rationality, interest structure, resource constraints, technical constraints, and institutional constraints can be abstracted. Based on these variables, a new integrated model of individual decision-making in institutional change can be constructed preliminarily.