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What is Economic Governance? (in 2 videos)

A new initiative, Learn IOE, has been started at the University Paris Dauphine (where IOE refers to Institutional and Organizational Economics). The idea is to provide a stack of short video lectures about fundamental or current topics in IOE. In one of my contributions, I explain the concept of economic governance. In another one, I introduce a classification of economic governance institutions.

In short, economic governance studies how fundamental economic problems, such as contract enforcement, collective action, and the protection of property rights, can be tackled by careful institutional design. The categorization introduced in the video helps in a comparative fashion to identify the type of governance institution that is best suited to solve a specific application. In the next step, the (institutional and organizational) details of the optimal type have to be designed.

For an application of this concept to the cloud computing industry, see this! A previous paper that only did step 1 and characterized the optimal type of the governance institution for cloud computing is here.