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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 association of different policy compositions with different initial conditions, in such cases, forms the basis for accessing maintains policy composition or policy mix. To find the end point of this dynamic policy process, we consider whether and how, the policy out come jump over the terminal surface corresponding to that policy mix, but it is feasible once a policy composition is announced. Theoretically speaking, the terminal values map down the entire process.
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Only limited progress has been made in modeling of dynamic process of institutional change, therefore, limiting the concerned policy options. It has been identified that innovatio
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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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