Economic Theory And Public Decisions
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Economic Theory And Public Decisions
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Author : Robert Dorfman
language : en
Publisher: Edward Elgar Publishing
Release Date : 1997
Economic Theory And Public Decisions written by Robert Dorfman and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Business & Economics categories.
Thirty-one essays reflect Professor Dorfman's contributions to the analysis of economic theory and public decision making during the last 40 years. The central concern of much of his career has been social decisions: how they are reached, and how they should be judged. Arrangement is in six sections covering statistics, mathematical methods, economic theory, natural resource and environmental economics, social decisions, and the history of economics. Annotation copyrighted by Book News, Inc., Portland, OR
Essays On Economic Decisions Under Uncertainty
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Author : Jacques Drèze
language : en
Publisher: CUP Archive
Release Date : 1990-05-25
Essays On Economic Decisions Under Uncertainty written by Jacques Drèze and has been published by CUP Archive this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990-05-25 with Business & Economics categories.
Professor Dreze is a highly respected mathematical economist and econometrician. This book brings together some of his major contributions to the economic theory of decision making under uncertainty, and also several essays. These include an important essay on 'Decision theory under moral hazard and state dependent preferences' that significantly extends modern theory, and which provides rigorous foundations for subsequent chapters. Topics covered within the theory include decision theory, market allocation and prices, consumer decisions, theory of the firm, labour contracts, and public decisions.
Political Theory And Public Choice
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Author : Anthony Downs
language : en
Publisher:
Release Date : 1998
Political Theory And Public Choice written by Anthony Downs and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Political Science categories.
This volume contains a selection of Anthony Downs' essays, written since the 1950s, on politics and political theory. The articles address such issues as democracy, public choice theory, rational political decision-making and political policy.
The Economic Theory Of Representative Government
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Author : Orville Brim
language : en
Publisher: Routledge
Release Date : 2017-07-28
The Economic Theory Of Representative Government written by Orville Brim and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-07-28 with Business & Economics categories.
This book provides a theory capable of explaining the patterns of public expenditures and taxation that occur under representative government. Economists and political scientists have come to realize that issues of public policy and public finance cannot be solved on the naive assumption that these are problems tackled by a government that exists only to serve the public good. Instead, government must be understood as one of the major economic institutions of society, one that behaves like more familiar economic institutions--the household and the firm--though the market it confronts is a market for policies rather than for goods and services. Albert Breton's pathbreaking work remains important in taking us toward a theory of representative government that enables an understanding of the observed behavior of political institutions. The author's analysis is cast in a relatively simple demand, supply and demand-supply-equilibrium framework, using the tools of marginal and stability analysis to explain the forces that influence and determine the flow of resources as they are allocated between competing ends in the public sector. The book presents a model of demand by citizens, who are assumed to be maximizing their desires for specific public policies and private goods, and a model of the supply of public policies by politicians and bureaucrats, who are assumed to be maximizing the probability of their re-election and the size of their budgets. Breton defines government policies and the institutional framework for collective choices in terms that render them amenable to further analysis. The main accomplishment of Breton's theory is that it provides the ability to analyze the interaction of individuals and generates testable propositions about the behavior of these individuals as well as about the behavior of public expenditures and taxation in more aggregative terms. In this way the book will be useful to students of economics, economists, and those interested in economic theory.
Collective Decision Making
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Author : Norman Schofield
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-03-09
Collective Decision Making written by Norman Schofield and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-03-09 with Political Science categories.
In the last decade the techniques of social choice theory, game theory and positive political theory have been combined in interesting ways so as to pro vide a common framework for analyzing the behavior of a developed political economy. Social choice theory itself grew out of the innovative attempts by Ken neth Arrow (1951) and Duncan Black (1948, 1958) to extend the range of economic theory in order to deal with collective decision-making over public goods. Later work, by William Baumol (1952), and James Buchanan and Gordon Tullock (1962), focussed on providing an "economic" interpretation of democratic institutions. In the same period Anthony Downs (1957) sought to model representative democracy and elections while William Riker (1962) made use of work in cooperative game theory (by John von Neumann and Oscar Morgenstern, 1944) to study coalition behavior. In my view, these "rational choice" analyses of collective decision-making have their antecedents in the arguments of Adam Smith (1759, 1776), James Madison (1787) and the Marquis de Condorcet (1785) about the "design" of political institutions. In the introductory chapter to this volume I briefly describe how some of the current normative and positive aspects of social choice date back to these earlier writers.
The Economic Theory Of Representative Government
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Author : Albert Breton
language : en
Publisher: Transaction Publishers
Release Date : 2007-12-01
The Economic Theory Of Representative Government written by Albert Breton and has been published by Transaction Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-12-01 with Business & Economics categories.
This book provides a theory capable of explaining the patterns of public expenditures and taxation that occur under representative government. Economists and political scientists have come to realize that issues of public policy and public finance cannot be solved on the naive assumption that these are problems tackled by a government that exists only to serve the public good. Instead, government must be understood as one of the major economic institutions of society, one that behaves like more familiar economic institutions--the household and the firm--though the market it confronts is a market for policies rather than for goods and services. Albert Breton's pathbreaking work remains important in taking us toward a theory of representative government that enables an understanding of the observed behavior of political institutions. The author's analysis is cast in a relatively simple demand, supply and demand-supply-equilibrium framework, using the tools of marginal and stability analysis to explain the forces that influence and determine the flow of resources as they are allocated between competing ends in the public sector. The book presents a model of demand by citizens, who are assumed to be maximizing their desires for specific public policies and private goods, and a model of the supply of public policies by politicians and bureaucrats, who are assumed to be maximizing the probability of their re-election and the size of their budgets. Breton defines government policies and the institutional framework for collective choices in terms that render them amenable to further analysis. The main accomplishment of Breton's theory is that it provides the ability to analyze the interaction of individuals and generates testable propositions about the behavior of these individuals as well as about the behavior of public expenditures and taxation in more aggregative terms. In this way the book will be useful to students of economics, economists, and those interested in economic theory. Albert Breton is professor emeritus of economics at the University of Toronto. He was once director of research for The Social Research Group in Montreal. His articles have been widely published in major journals and some of his recent books include Rational Foundations of Democratic Politics and Political Extremism and Rationality (with Gianluigi Galeotti, Pierre Salmon, and Ronald Wintrobe) and Bijuralism: An Economic Approach (with Michael J. Trebilcock).
Public Policy And Economic Theory
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Author : Torben M. Andersen
language : en
Publisher: Wiley-Blackwell
Release Date : 1998-10-15
Public Policy And Economic Theory written by Torben M. Andersen and has been published by Wiley-Blackwell this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-10-15 with Business & Economics categories.
Does economic theory improve the basis for economic policy decisions? This question is considered by internationally well-known scholars who, within their field of expertise, address the connection between economic theory and public policy. Each paper is followed by comments from two experts to highlight the spectra of views on public policy and economic theory.
Public Finance
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Author : David N. Hyman
language : en
Publisher: Arden Shakespeare
Release Date : 2008
Public Finance written by David N. Hyman and has been published by Arden Shakespeare this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Finance, Public categories.
Once again, popular author and seasoned economist Dr. David Hyman delivers a balanced presentation of public policy that equips readers with a solid understanding of economic theory and how it affects policy issues. Extremely student friendly, PUBLIC FINANCE, International Edition, 9th edition thoroughly illustrates the role government plays in the economy and explains how and why the public sector makes decisions. The text also describes public goods--the many instances in which the public sector does not make efficient decisions and the government must step in to provide goods efficiently and equitably to all members of society. The book provides comprehensive coverage of tax issues (the supply of public funds), as well as includes such topics as health care, cost-benefit analysis, and other issues that involve government-spending decisions--issues that deal with the demand for public funds.Packed with timely, real-world examples, Public Finance provides an interesting read that sparks lively student discussion and debate with its coverage of such hot topics as national defense and homeland security, pollution rights, Social Security reform, federal tax reform, the War in Iraq, and much more. Turning the spotlight on numerous international governments, the text also gives students an excellent overview of the role of economics in the global marketplace. In addition, it includes numerous study tools and exercises to help students sharpen their economic acumen.
Public Decision Making Processes And Asymmetry Of Information
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Author : Massimo Marrelli
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Public Decision Making Processes And Asymmetry Of Information written by Massimo Marrelli and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
The problems arising from the existence of asymmetric information in public decision making have been widely explored by economists. Most of the traditional analysis of public sector activities has been reviewed to take accountofthe possible distortions arising from an asymmetric distribution of relevant information among the actors of the public decision-making process. A normative approach has been developed to design incentive schemes which tackle adverse selection and moral hazard problems within public organisations: our understanding of these problems is now much better, and some of the mechanisms designed have had important practical implications. While this analysis is still under way in many fields of public economics, as the papers by Jones and Zanola, and Trimarchi witness, a debate is ongoing on the possible theoretical limitations ofthis approach and on its actual relevance for public sector activities. This book encompasses different contributions to these issues, on both theoretical and practical areas, which were firstly presented at a conference in Catania. The innermost problem in the current discussion arises from the fact that this normative analysis is firmly rooted in the complete contracting framework, with the consequence that, despite the analytical complexities of most models, their results rely on very simplified assumptions. Most complexities of the organisation of public sector, and more generally, of writing "contracts", are therefore swept away.
Smart Economic Decision Making In A Complex World
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Author : Morris Altman
language : en
Publisher: Academic Press
Release Date : 2020-05-22
Smart Economic Decision Making In A Complex World written by Morris Altman and has been published by Academic Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-05-22 with Business & Economics categories.
Smart Economic Decision-Making in a Complex World is a fresh and reality-based perspective on decision-making with significant implications for analysis, self-understanding and policy. The book examines the conditions under which smart people generate outcomes that improve their place of work, their household and society. Within this work, the curious reader will find interesting open questions on many fascinating areas of current economic debate, including, the role of realistic assumptions robust model building, understanding how and when non-neoclassical behavior is best practice, why the assumption of smart decision-makers is best to understand and explain our economies and societies, and under what conditions individuals can make the best possible choices for themselves and society at large. Additional sections cover when and how efficiency is achieved, why inefficiencies can persist, when and how consumer welfare is maximized, and what benchmarks should be used to determine efficiency and rationality. Makes the case for ‘smart and rational’ decision-making as a context-dependent rational process that is framed by socio-cultural environment and conditioned by institutional capacities Explains how incorporation of the ‘smart’ decision-maker concept into economic thought improves our understanding of how, why and when people generate certain outcomes Explores how economic efficiency can be achieved, individual preferences realized, and social welfare maximized through the use of ‘smart and rational’ approaches