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

Discuss why you believe our urban public schools , Recent standardized test...

Recent standardized test scores suggest that the Milwaukee Public School system is facing a profound moment of crisis, a reality shared by school districts in many other US cities.

Define heterogeneity, Q. Define Heterogeneity? We know that breaking of...

Q. Define Heterogeneity? We know that breaking of the assumptions of homogeneity of agents, in welfare economics, makes it difficult to define social welfare function. Breakin

Case for the market - pigovian analysis, Case for the Market   With  th...

Case for the Market   With  the objective of maximising total value of output  focused on  observing real  factors of production, through the  logical  'tool  of marginal produ

Public sector, Are there any welfare or subsidy payments that should be ren...

Are there any welfare or subsidy payments that should be renewed or added? 2.What are the costs and consequences of providing the subsidies and welfare? 3.Are there any current sub

Public finance, Public Finance was always dealing with intervention through...

Public Finance was always dealing with intervention through fiscal instruments, including federal relationships between different tiers of governments and later on it subsumed Publ

Externality tax, Normal 0 false false false EN-IN X-N...

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

Command and control (cac), Normal 0 false false false E...

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

Principal-agent problem and policy process, As you know, the principal-agen...

As you know, the principal-agent problem stress the effect of asymmetric information between the principal and the agents on economic outcomes, the equilibrium in a principal-agent

Nations of the commonwealth, The international monetary fund and the World ...

The international monetary fund and the World Bank are the main lending financial institutions that give assistance to developing nations in the restoration of their economy. Wh

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