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A change in the legal statute may be able to force an equilibrium if it leads to a new equilibrium which implies some revised belief which sustains the equilibrium. Tirole (1996) developed a model to study group reputation and demonstrated that an anticorruption programme of sufficient duration and severity can play in switching an economy from high corruption with sustained belief it to one with low corruption and sustained belief for it. This shift has wide spread impact on all most all the sectors of the economy.
Q. What do you understand by Policy Process? Begin from theoretical frame work of policy making and proceed breaking various assumptions and introducing heterogeneity of agents
what is volume of production and the factors influencing them
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eiplain why indifference curve are convex to the origin
what do you understand by private & public goods. Distinguish between private and public goods.
1. is pareto improved demonstrated using the edgeworth box daigram?
Industries in the country of Technologia invest in latest equipment that annually enhance productivity of private workers by three percent. Government employees do not profit from
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Earlier than the Civil War, the South graded with the North and with England. It sold cotton and bought manufactured goods and food. Throughout the war, one of Lincoln's first acti
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