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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.
The fragmentation and redundancies of the U.S federal system are expensive in terms of coordination and personnel costs. Would you favor or oppose greater consolidation? Why or why
how wage increase of fixed income groups'' will affect the overall economy? what are effects exactly?
Explain the stages and various coordination mechanism nvolved in policy processes
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(b) Assess the application of Kaldor’s compensation principle in resolving Pareto non-comparability and explain how the principle differs from the Hick''s compensation principle
Q. Relationship between individual preference and social choice? Social Choice is a very kindred area. Some people don't make any distinction between the two while others make.
The coordination problem relates us to not only the levels of activities like research and developments (R&D) and investments but also to the behaviour of institutions that charact
In terms of the debate in the media on state owned enterprises ,explain the decreasing cost case and the possibility of privatisation of SOEs such as Eskom and SAA
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