Start Discovering Solved Questions and Your Course Assignments
TextBooks Included
Active Tutors
Asked Questions
Answered Questions
while getting introduced with various concepts it would strategically be unfair to venture in to the analysis of on going policies unless a
there has been a long history of research on lsquothe policy process which is lsquoclosely connected to efforts to examine the nature of power in
q show the traditional decision analysistraditional decision analysis rests on the key assumptions about the type of information available to the
our economic systems are of this type and share for general propertiesa dissipative systems transform energy and process information to maintain a
since complexity theory as a tool has not been included in the standard tool kits of our economics courses it is pertinent to have a basic idea of
quantitative policy process depends on a portfolio of tools that have been drawn from a variety of disciplines besides discretionary political
rules concerning disclosure of information and accounting change behaviour but only be drawing attention to certain facts in the area of environment
suppose there is certain social norm its enactment into statutory law lowers peoples private cost of its enforcement because it creates the
a change in the legal statute may be able to force an equilibrium if it leads to a new equilibrium which implies some revised belief which sustains
a variety of interventions can affect outcomes the important one are intervention to solve coordination problem information as an interventions
it has been accepted to most policy and development economists that among the most important sets of institution in an economy are those that provide
this variant of coordination problem seeks the answer to why some countries fail to grow when public and private rent seeking makes property rights
the coordination problem relates us to not only the levels of activities like research and developments rampd and investments but also to the
only limited progress has been made in modeling of dynamic process of institutional change therefore limiting the concerned policy options it has
the structural interdependence in fact forms the basis for the policy makers choice behaviour for policy or policy mixes the spectrum formed by
q political trans-national activitythe dynamics resulting from the institutional interdependencies are of major importance for an understanding of
the essence of a national boundary is separate the lsquoself from the lsquoother thus natural boundaries like all institutions have their own set of
we live in a globalized world economy our policy agenda as we have discussed earlier have changed enormously to include environment humanity 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
q example on uncertainty and the policy processfor example if it is expected that current government will be replaced in upcoming election and the
as we know now that in policy process policy outcome may differ from the social planner outcome not only because different policies may be chosen but
as you know the principal-agent problem stress the effect of asymmetric information between the principal and the agents on economic outcomes the
one shortcoming of neoclassical welfare economics is that it does not take into account the institutional structure of collective decision making to
the other type is called ex-post heterogeneity which refer to the conflict of interests arising due to distributional implications of the public
q describe ex-ante heterogeneityfirst conflict reflects heterogeneity among agents due to different policy preferences individuals or agents are