THE INSTITUTIONS OF THE EUROPEAN UNION - AN ANALYTICAL APPROACH OF PUBLIC CHOICE THEORY AND INSTITUTIONAL ECONOMICS

The paper is developing an analysis of the delegation of decision-making competencies towards different political levels of the multi-level-governance in the European Union. The theory of public choice is used to explain decisions taken by the citizens of the union and the political actors having the decision-making competence on the national or on the supranational level. Starting from the concept of the homo economicus the theory of transaction costs, externalities and public goods is used to give an overview about the efficiency of internal and external institutions. This helps to analyse the question how an adequate delegation of decision-making towards the multilevel-governance should look like and what consequences could he drawn towards the calculation of costs and benefits for the European society.