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Vlad Tarko - From Informal Tribal Affairs To Formal Democratic Institutions

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Vlad Tarko - From Informal Tribal Affairs To Formal Democratic Institutions

  1. 1. From informal tribal affairs to formal democratic institutions Vlad Tarko Center for Institutional Analysis and Development, Eleutheria Foundation, Bucharest    
  2. 2. Exchanges Two people: A and B Two products or services: x and y A[x] B[y]  A[y] B[x]    
  3. 3. Exchanges Two people: A and B Two products or services: x and y A[x(t1)] B[y(t1)]  A[y(t2)] B[x(t2)]    
  4. 4. Exchanges Two people: A and B Two products or services: x and y A[x(t1)] B[y(t1)]  A[y(t2)] B[x(t2)] Why does the exchange happen? A[y(t1)] > A[x(t1)] B[x(t1)] > B[y(t1)]    

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