“…We have summarized a recent theoretical analysis of the problem of optimizing cost of institutional incentives (for both reward and punishment) while guaranteeing a minimum amount of cooperation, in stochastic finite populations. In this context, institutional approaches have been widely adopted to study biological and artificial life systems (Andras et al, 2018;Jones et al, 2013;Smaldino and Lubell, 2014;Perret et al, 2019;Andras, 2020). This analysis provides new, fundamental insights into a cost-efficient design of institution-based solutions for promoting pro-social behaviours in social and artificial systems.…”