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

Inflation vary from a cost-push inflation, Describe the basic process by wh...

Describe the basic process by which an economy moves by a business cycle.  What is meant by a demand-pull inflation?  How does a demand-pull inflation vary from a cost-push inflati

The myth of public goods by mark davis, summarize the basic tents of the ar...

summarize the basic tents of the argumentsin this case

Multi unit finance, what are the principles of multi unit finance and princ...

what are the principles of multi unit finance and principles of grant design

What problems are faced by developing economies, Question: Describe the...

Question: Describe the main measures of size and/or cutoff point below which economies are classed as small? In 1982 the Development Committee of the World Bank and the Int

Summary of environmental policy, Normal 0 false false false...

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

Aspects of environmental functions, Normal 0 false false fa...

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

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?

Types of inefficiencies caused by the public sector, QUESTION a) How ...

QUESTION a) How would the strategy of a firm faced with repeated games differ from that faced with sequential games? b) What do you understand by an optimal level of poll

Public debt, what are the principles of public debt?

what are the principles of public debt?

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