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The Open Method of Coordination (OMC)

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  • Ana B. Ania

    ()

  • Andreas Wagener

    ()

Abstract

We interpret the Open Method of Coordination (OMC), recently adopted by the EU as a mode of governance in the area of social policy and other ¯elds, as an imitative learning dynamics of the type considered in evolutionary game theory. The best-practise feature and the iterative design of the OMC correspond to the behavioral rule \imitate the best." In a redistribution game with utilitarian gov- ernments and mobile welfare bene¯ciaries, we compare the outcomes of imitative behavior (long-run evolutionary equilibrium), decentralized best-response behavior (Nash equilibrium), and coordinated policies. The main result is that the OMC allows policy coordination on a strict subset of the set of Nash equilibria, favoring in particular coordination on intermediate values of the policy instrument.

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Bibliographic Info

Paper provided by University of Vienna, Department of Economics in its series Vienna Economics Papers with number 0904.

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Date of creation: Mar 2009
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Handle: RePEc:vie:viennp:0904

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Web page: http://www.univie.ac.at/vwl

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