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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. Importance of heterogeneity? The importance of heterogeneity for public policy process can be summarized in two propositions. - Heterogeneity or conflict of interests is
eiplain why indifference curve are convex to the origin
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types of welfare economics
U=4X+G where X is private spending and G is public spending. what is the marginal rate of substitution between public and private
Theory of optimal tax system is relevant for tax policy issue
QUESTION (i) "Public Sector data is seen as owned by everyone since it has been gathered about and from everyone, often compulsorily". Discuss the concepts of ‘Public data' whe
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