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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.
Graphthe market for water park business, labeling the demand curve, the social-value curve, the market equilibrium level of output, and the efficient level of output. What is the p
One shortcoming of neoclassical welfare economics is that it does not take into account the institutional structure of collective decision making. To draw normative conclusions abo
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Introduce uncertainties in attainments of policy outcomes, winning of elections, optimistic and pessimistic expectations of agents and relate it to various adjustments and converge
“In the presence of institutional constraints, the Theory of Second Best tells us to perform the welfare maximization problem to solve the Pareto Optimal conditions and then apply
what is the definition of public debt burden?
What is the link between efficiency wages and shirking? There are two firms A and B identical in all respects except the following. In firm A increased expenditure on monitoring co
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
Question 1 Legislature, most commonly known by the name parliament, forms the first important organ of a political organization and to hold this position it performs certain func
eiplain why indifference curve are convex to the origin
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