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The Institutions Of The European Union – An Analytical Approach Of Public Choice Theory And Institutional Economics

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  • Lars O. Pilz

    (Wilhelm Merton-Centre for European Integration and International Economics Johann Wolfgang Goethe-University Frankfurt/Germany)

Abstract

The paper is developing an analysis of the delegation of decisionmaking competencies towards different political levels of the multi-levelgovernance in the European Union. The theory of public choice is used to explain decisions taken by the citizens of the union and the political actors having the decision-making competence on the national or on the supranational level. Starting from the concept of the homo economicus the theory of transaction costs, externalities and public goods is used to give an overview about the efficiency of internal and external institutions. This helps to analyse the question how an adequate delegation of decision-making towards the multi-level-governance should look like and what consequences could be drawn towards the calculation of costs and benefits for the European society.

Suggested Citation

  • Lars O. Pilz, 2008. "The Institutions Of The European Union – An Analytical Approach Of Public Choice Theory And Institutional Economics," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 40(3), pages 101-118.
    • Handle: RePEc:blg:reveco:v:40:y:2008:i:3:p:101-118
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    File URL: http://economice.ulbsibiu.ro/RePEc/blg/reveco/407pilz.pdf
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    References listed on IDEAS

    as
    1. Dahlman, Carl J, 1979. "The Problem of Externality," Journal of Law and Economics, University of Chicago Press, vol. 22(1), pages 141-162, April.
    2. R. H. Coase, 2013. "The Problem of Social Cost," Journal of Law and Economics, University of Chicago Press, vol. 56(4), pages 837-877.
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