He also hopes village forums can agree informal rules to resolve neighbourhood problems.

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He operates by informal rules and agreements rather than laws and institutions.

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The solutions are therefore to be found in formal (and informal) rules and regulations to control or eliminate perverse incentives in the market place, and in the governance structures of financial corporations.

ECONOMIST: Economic reasoning

Mikael Schiller, the company's executive chairman, says he thinks Acne has succeeded because the company adheres to its own informal catalogue of counterintuitive rules.

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Small companies tend to be informal workplaces that lack stringent rules on Internet usage.

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But the new rules also provided new tools: countries can now tap into informal sources of disease information as part of their official reporting.

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The Commission also received an informal complaint alleging that Verizon Wireless had violated the FCC's C Block rules by making such a request.

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The practice is not illegal in the UK, but it is restricted by various legal rules which, generally speaking, allow only surrogacy arrangements that are informal and non-commercial.

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