TY  - JOUR
U1  - Zeitschriftenartikel, wissenschaftlich - begutachtet (reviewed)
A1  - Herzog, Bodo
T1  - Applied mathematical theory of governance : impact of group size to governance
JF  - Theoretical mathematics and applications
N2  - This paper analyzes governance mechanisms for different group sizes. The European sovereign debt crisis has demonstrated the need of efficient governance for different group sizes. I find that self-governance only works for sufficiently homogenous and small neighbourhoods. Second, as long as the union expands, the effect of credible self-governance decreases. Third, spill-over effects amplify the size effect. Fourth, I show that sufficiently large monetary unions, are better off with costly but external governance or a free market mechanism. Finally, intermediate-size unions are most difficult to govern efficiently.
KW  - economic governance
KW  - group size
KW  - european monetary union
Y1  - 2015
U6  - https://nbn-resolving.org/urn:nbn:de:bsz:rt2-opus4-4875
UN  - https://nbn-resolving.org/urn:nbn:de:bsz:rt2-opus4-4875
UR  - http://www.scienpress.com/Upload/TMA/Vol%205_2_4.pdf
SN  - 1792-9687
SS  - 1792-9687
VL  - 5
IS  - 2
SP  - 71
EP  - 87
S1  - 17
PB  - International Scientific Press
CY  - London
ER  -