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Q. What do you understand by Policy Process?
Begin from theoretical frame work of policy making and proceed breaking various assumptions and introducing heterogeneity of agents under a various, to show that policy process is an interactive dynamic adaptive process rather than a one time, once for all solution.
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Consider two different consumer-directed health plans. One has a $5000 deductible, with the insurance paying for all care after the deductible has been met. The other has a $2000 d
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Q. Describe ex-ante heterogeneity? First conflict reflects heterogeneity among agents due to different policy preferences. Individuals or agents are heterogeneous in a number o
Consider an economy in which George and Harriet consume only ale and bread
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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
PIGOVIAN APPROACH Pigou assumed that the aim of social policy is to 'promote welfare'. But in order to simplifL this, he chose to restrict the range of his inquiry to
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