Aligica & Tarko - Institutional resilience and economic systems
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![Exchanges
Two people: A and B
Two products or services: x and y
A[x] B[y] A[y] B...](https://image.slidesharecdn.com/infromalsocialrulestoformalinstitutions-1215508812525544-9/75/vlad-tarko-from-informal-tribal-affairs-to-formal-democratic-institutions-2-2048.jpg?cb=1671784204)
![Exchanges
Two people: A and B
Two products or services: x and y
A[x(t1)] B[y(t1)] A[y(t...](https://image.slidesharecdn.com/infromalsocialrulestoformalinstitutions-1215508812525544-9/75/vlad-tarko-from-informal-tribal-affairs-to-formal-democratic-institutions-3-2048.jpg?cb=1671784204)
![Exchanges
Two people: A and B
Two products or services: x and y
A[x(t1)] B[y(t1)] A[y(t...](https://image.slidesharecdn.com/infromalsocialrulestoformalinstitutions-1215508812525544-9/75/vlad-tarko-from-informal-tribal-affairs-to-formal-democratic-institutions-4-2048.jpg?cb=1671784204)
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Vlad Tarko - From Informal Tribal Affairs To Formal Democratic Institutions
- 1. From informal tribal affairs to formal democratic institutions Vlad Tarko Center for Institutional Analysis and Development, Eleutheria Foundation, Bucharest
- 2. Exchanges Two people: A and B Two products or services: x and y A[x] B[y] A[y] B[x]
- 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. 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)]
