Application of the Game theory to Trade between WAEMU and the EU
Keywords:
Trade, Economic Partnership Agreements, economic integration, game theoryAbstract
The aim of this paper is to analyze the issues of the implementation of the EPAs (Economic Patnership Agreements) by the WAEMU (West African Economic and Monetary Union) countries in the context of trade relations between this Union and the EU (European Union). The tool of game theory is used through the coalition theory to formalize exchange gains between the different entities. The results show that it is advantageous for WAEMU countries to sign EPAs since a partnership between countries of different development levels provides more trade gains than a partnership with a bloc of similar countries.References
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