Example on uncertainty and the policy process, Public Economics

Assignment Help:

Q. Example on Uncertainty and the policy process?

For example, if it is expected that current government will be replaced in upcoming election, and the next government will be having a different set of policy preferences, expectations on the performance of the current policy may become higher. The process becomes move complicated when current policy and its performance is used to decide the probability of success of the present government in upcoming elections. With uncertainty about the future policy, the policy outcome relation may become quite complex. Thus under symmetric incomplete information the dynamic feedback due to uncertainty severely complicates the effects of policy on its outcome. Matter is complicated further when we assume incomplete information to be asymmetric. Uncertainty about future public policy gives rise to a complex dynamical system.


Related Discussions:- Example on uncertainty and the policy process

Micro economic, Explain the nature &importance of micro economic?

Explain the nature &importance of micro economic?

Political trans-national activity, Q. Political Trans-national Activity? ...

Q. Political Trans-national Activity? The dynamics resulting from the institutional interdependencies are of major importance for an understanding of the process of political t

Wage regulations, how wage increase of fixed income groups'' will affect th...

how wage increase of fixed income groups'' will affect the overall economy? what are effects exactly?

Lm-schedule, describe and illustrate the lm-schedule

describe and illustrate the lm-schedule

Valuation tools, Normal 0 false false false EN-IN X-N...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Stabilization policy, The monetarist and fiscal controversy is still on. Th...

The monetarist and fiscal controversy is still on. The recent history of the U.S. looks like a success story of the monetarists; but besides pure luck, it involved strong element o

Extensions of the sna-type systems, Normal 0 false false fa...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Policy composition and policy reversal, Let us now consider a situation in ...

Let us now consider a situation in which we know the timing of a change in policy but are unsure about the composition of the future policy. The association of different policy co

Health economics, why is it important to consider the complex nature of hea...

why is it important to consider the complex nature of health and health care when examining economic principles related to health care delivery?

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd