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

Valuation tools - shadow prices, Normal 0 false false false...

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

Choice of mbis, Normal 0 false false false EN-IN X-NO...

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

Requisite modifications to national income accounts, Requisite Modification...

Requisite Modifications to National Income Accounts Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetE

What do you understand by policy process, Q. What do you understand by Poli...

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

What makes a public opinion poll scientific, What makes a public opinion po...

What makes a public opinion poll scientific 1. To what extent do we really think about political issues as individuals, or are we more influenced by our environment -family, t

Capitalist price, Explain how the price system answers the five fundamental...

Explain how the price system answers the five fundamental questions of economics, and talk about at least two of the short-comings of the capitalist price and market system.

Policy for interventions to solve problem, A variety of interventions can a...

A variety of interventions can affect outcomes. The important one are, intervention to solve coordination problem, information as an interventions, interventions to change the dyn

Importance of valuation of environment, Normal 0 false false ...

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

Communicating with publics, When Neff says that "the very essence of public...

When Neff says that "the very essence of public relations is grounded in communication" (2010 p.373) she goes on to point to two features of communication that should aid us in ana

Pigovian analysis, Pigovian Analysis   The starting point of the Pigovi...

Pigovian Analysis   The starting point of the Pigovian welfare analysis is the notion that there  is a resource allocation  problem  that can be  optimally  solved. Through  hi

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