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Crisis In The Euro Area: Coopetitive Game Solutions As New Policy Tools

Author

Listed:
  • David CARFÌ

    (DESMaS "V.Pareto" University of Messina, Italy)

  • Daniele SCHILIRÒ

    (DESMaS "V.Pareto" University of Messina, Italy)

Abstract

The crisis within the euro area has become frequent during 2010. First was the Greek economy to face a default problem of its sovreign debt, in November it was Ireland who has been in a serious financial situation at the verge of collapse causing difficulties to the euro. In this contribution we focus on the Greek crisis and we suggest, through a model of competition based on game theory and conceived at a macro level, feasible solutions in a cooperative perspective for the divergent interests which drive the economic policies in Germany and Greece, with the aim of improving the position of Greece, Germany and the whole euro area, also making a contribution to expand the set of macroeconomic policy tools. By means of our general analytical framework of competition, we show the strategies that could bring to feasible solutions in a cooperative perspective for Germany and Greece, where these feasible solutions aim at offering a win-win outcome for both countries, letting them to share the pie fairly within a growth path represented by a non-zero sum game. A remarkable analytical result of our work consists in the determination of the win-win solution by a new selection method on the transferable utility Pareto boundary of the competitive game.

Suggested Citation

  • David CARFÌ & Daniele SCHILIRÒ, 2011. "Crisis In The Euro Area: Coopetitive Game Solutions As New Policy Tools," Theoretical and Practical Research in the Economic Fields, ASERS Publishing, vol. 2(1), pages 22-36.
    • Handle: RePEc:srs:jtpref:v:2:y:2011:i:1:p:22-36
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    Cited by:

    1. Carfì, David & Schilirò, Daniele, 2012. "A coopetitive model for the green economy," Economic Modelling, Elsevier, vol. 29(4), pages 1215-1219.
    2. Schilirò, Daniele, 2013. "Mediterraneo: migrazioni e sviluppo economico [Mediterranean: migrations and economic development]," MPRA Paper 72745, University Library of Munich, Germany.
    3. David CARFÌ & Emanuele PERRONE, 2011. "Game Complete Analysis Of Bertrand Duopoly," Theoretical and Practical Research in the Economic Fields, ASERS Publishing, vol. 2(1), pages 4-21.
    4. Daniela Baglieri & David Carf`i & Giovanni Battista Dagnino, 2012. "Asymmetric R&D Alliances and Coopetitive Games," Papers 1205.2878, arXiv.org.
    5. Schilirò, Daniele, 2015. "Mediterraneo ed Unione Europea tra migrazioni e crescita sostenibile [Mediterranean and European Union between migration and sustainable growth]," MPRA Paper 75603, University Library of Munich, Germany.
    6. Carfì, David & Schilirò, Daniele, 2012. "Global green economy and environmental sustainability: a coopetitive model," MPRA Paper 37018, University Library of Munich, Germany.
    7. David CARFI & Caterina FICI, 2012. "The Government-Taxpayer Game," Theoretical and Practical Research in the Economic Fields, ASERS Publishing, vol. 3(1), pages 13-25.
    8. Carfì, David & Schilirò, Daniele, 2011. "A framework of coopetitive games: applications to the Greek crisis," MPRA Paper 78089, University Library of Munich, Germany.
    9. Schilirò, Daniele, 2012. "The crisis of euro’s governance: institutional aspects and policy issues," MPRA Paper 40861, University Library of Munich, Germany.

    More about this item

    JEL classification:

    • F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games

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