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Suppose there is certain social norm. Its enactment into statutory law lowers people's private cost of its enforcement because it creates the possibility that violation of norm will face civil punishment. People will start believing that other people will also enforce the norm and the expectation can be self-fulfilling. When extended we can expect policy prescriptions leading to better coordination between agents in the system.
A variety of interventions can affect outcomes. The important one are, intervention to solve coordination problem, information as an interventions, interventions to change the dyn
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Q. Why does government undertake an economic activity? If ever an activity has large externality or spill over and includes a large number of people, it may be found better th
sensors see details and seek detail and precision intuitions see generalities
The structural interdependence, in fact, forms the basis for the policy maker's choice behaviour for policy or policy mixes. The spectrum formed by various policy mixes depends on
Horners method - C program: Modify the program to implement the details for the recursive function called horners(double b, int n) that calculates Horner's method for a coeff
examples of inductive method in economics
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