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This paper investigates two different approaches to the analysis of institutions using game theory and discusses their … methodological and theoretical implications for further research. Starting from von Neumann and Morgenstern's theory, we investigate … method to investigate institutions as the unplanned outcome of self- interested individual behavior? While the game theory …
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Global mobility of capital and labour impose the issue of optimal tax structure of all countries. In some countries, direct taxes on income and profits are still dominant, while in other the main source of tax incomes are indirect taxes, primarily value added tax (VAT). Tax system of Serbia is...
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This paper presents a model of political competition to explore the effect that the ideological distance between two political parties has over the provision of public goods. The main result argues that the ideological distance between parties and citizens has a negative relationship with the...
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