Property "Displayed Value is not set in the selected lookup" error

Hi,

I have created an Educational demo in Sales Enterprise. I have created "Institutions" section with the institutes names. I am creating a lookup in other sections by using existing lookup "Institutions". But I am getting Property "Displayed Value is not set in the selected lookup. You can't select values from this lookup without this property. Set this property in advanced settings section and try again". 

Please suggest me to solve this issue.

Thank you.