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

Pollution Abatement Options, Normal 0 false false false ...

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

Health Economics, 1.) In what way is insurance for medical loss/illness dif...

1.) In what way is insurance for medical loss/illness differ from insurance for any type of property loss?

Policy agenda for the next decade, While getting introduced with various co...

While getting introduced with various concepts, it would strategically be unfair to venture in to the analysis of on going policies unless a reasonable conceptual coverage has been

Explain how the mobile industry is enabling economic growth, Question: ...

Question: (a) Jeffrey Sachs, Columbia University's Earth Institute Development Guru, opines that the humble mobile phone is "the single most transformative tool for developmen

Economics of renewable resources, Normal 0 false false fals...

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

#titlTaxation, Theory of optimal tax system is relevant for tax policy issu...

Theory of optimal tax system is relevant for tax policy issue

TAXATION, what are the taxations most important of Colombia country

what are the taxations most important of Colombia country

Metals and melting practices - charging, Metals and Melting Practices - Cha...

Metals and Melting Practices - Charging,Coke,Flux,Hearth Charging : An operation in which raw materials are added up to a furnace. Coke : An impure form of carbon that is

Economic outcomes, Suppose that economic outcomes can be classified as eith...

Suppose that economic outcomes can be classified as either good or bad. Governments differ in ability and this affects the likelihood of good outcomes. There are two types of gover

Importance of Perception in negotiation., Apply general attribution theory ...

Apply general attribution theory to analyze and explain each party''s attitudes and conclusions. Hint: Use consensus, consistency, distinctiveness, and the fundamental error. 2. Ex

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