The Open Method of Coordination (OMC)
Ana Ania () and
Vienna Economics Papers from University of Vienna, Department of Economics
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.
JEL-codes: H77 H75 C73 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-evo and nep-ore
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Persistent link: https://EconPapers.repec.org/RePEc:vie:viennp:0904
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