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Defining Institutional Quality - A Game Theoretic Approach

Ek, Andreas LU (2011) NEKK01 20112
Department of Economics
Abstract
Abstract This paper discusses definitions of institutions and proposes three different game theoretic definitions of institutional quality. The setting used is a repeated game between an investor and a country. Three definitions of institutional quality are presented: institutional quality as utility maximization, as credible commitment, and as length of foresight. The merits and drawbacks of the different definitions are discussed, as well as their complementarity and compatibility. The relationship between the technical definitions, and an example of an actual empirical measure of institutional quality are also touched upon.
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author
Ek, Andreas LU
supervisor
organization
course
NEKK01 20112
year
type
M2 - Bachelor Degree
subject
keywords
Institutional Economics, Game Theory, Development Economics
language
English
id
2224602
date added to LUP
2011-12-15 13:10:16
date last changed
2011-12-15 13:10:16
@misc{2224602,
  abstract     = {Abstract This paper discusses definitions of institutions and proposes three different game theoretic definitions of institutional quality. The setting used is a repeated game between an investor and a country. Three definitions of institutional quality are presented: institutional quality as utility maximization, as credible commitment, and as length of foresight. The merits and drawbacks of the different definitions are discussed, as well as their complementarity and compatibility. The relationship between the technical definitions, and an example of an actual empirical measure of institutional quality are also touched upon.},
  author       = {Ek, Andreas},
  keyword      = {Institutional Economics,Game Theory,Development Economics},
  language     = {eng},
  note         = {Student Paper},
  title        = {Defining Institutional Quality - A Game Theoretic Approach},
  year         = {2011},
}