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Q. Show the Traditional decision analysis?
Traditional decision analysis rests on the key assumptions about the type of information available to the decision maker. Powerful Bayesian methods produce a rank of alternative strategies, and in particular, identify the optimum strategy, assuming decision maker has a well characterized system. However, we often have information about policy process different from that assumed by traditional decision analysis. For instance, while making politics we find policy process often displays regions of extreme sensitivity to a particular assumption while at the same time exhibit important regularities of the macroscopic behaviour.
An alternative to systematic policy analysis, practitioners have often used scenario based methods of decision support. This method can help decision or policy makes recognize that the future may not be an extrapolation of the past and can help interest group reach consensus on strategies even when members cannot agree on most likely future. However, even this scenario based approach does not offer two key benefits of quantitative decision analysis; particularly when applied to policy process.
summarize the basic tenets of mark davis arguments
Consider an economy in which George and Harriet consume only ale and bread
.thoery of cost.
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 because a given policies may
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Question: (a) What is the difference between a News Conference and a News Release? (b) An Organising Committee has been set up to celebrate the Chinese Spring Festival on S
Discuss whether high indirect taxes are the best way to discourage smoking.
Public Finance was always dealing with intervention through fiscal instruments, including federal relationships between different tiers of governments and later on it subsumed Publ
Types of production function
The other type is called ex-post heterogeneity which refer to the conflict (of interests) arising due to distributional implications of the public policy. Thus when a public polic
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