combination of resources that lead to it, in the context of other (potential) resources (Chandler and Vargo, 2011). It is thus always unique to a single actor and, it follows, can only be determined by that actor, or at least with the actor as the central referent. The fifth axiom (FP11) Value cocreation is coordinated through actor-generated institutions and institutional arrangements draws attention to the role of institutions and the process of institutionalization in value cocreation. It is important to note that here the term institution does not refer to an organization. Instead, institutions are humanly devised rules, norms, and beliefs that enable and constrain action and make social life predictable and meaningful (Scott 2001; see also North 1990). Institutions and institutional arrangements—higher-order sets of interrelated institutions—enable actors to accomplish an ever-increasing level of service exchange and value cocreation under time and cognitive constraints in service ecosystems (Vargo and Lusch, 2016). This benefit, however, comes at a potential expense, as institutionalization can also lead to lock-in. Service ecosystems perspective To fully unlock the complex nature of value cocreation within the society, S-D logic has recently introduced the concept of a service ecosystem (Lusch and Vargo, 2014, Vargo and Lusch, 2011). As actors specialize in providing ever more sophisticated configurations of applied resources for each other, the systemic dependencies and interdependencies among them result as the emergence of complex exchange systems (Chandler and Vargo, 2011, Vargo and Lusch, 2011). S-D logic uses the term 'ecosystems' to identify these systems because it denotes actor–environmental interaction and energy flow. More specifically, the term 'service ecosystem' is used to identify the particular kind of critical flow—mutual service provision (Vargo and Lusch, 2016). Service ecosystems are defined in S-D logic as "relatively self-contained, self-adjusting systems of resource-integrating actors connected by shared institutional arrangements and mutual value creation through service exchange." (Lusch and Vargo 2014; Vargo and Lusch 2016). The service ecosystems concept is similar to the service systems concept of service science (Service science, management and engineering, e.g., Maglio et al. 2009), defined as "a configuration of people, technologies, and other resources that interact with other service systems to create mutual value". However, the service ecosystem definition in S-D logic emphasizes the more general role of institutions, rather than technology. Likewise, the service ecosystems conceptualization is somewhat similar to Layton's (e.g., 2011) conceptualization of a marketing system. However, he sees both knowledge and institutions as