| Description |
1 online resource (515 pages) |
| Contents |
Cover; Title; Copyright; Contents; Acknowledgments; SECTION I Economic and ethical concepts for policy analysis; 1 The meaning of policy analysis; A brief history of U.S. policy analysis; The goals of public policy; The steps in policy analysis; Views of government and the roles of the policy analyst; Critical thinking as a policy tool; Critical thinking about policy analysis; Conclusion; Review questions; 2 A review of markets and rational behavior; What is ""perfect"" competition?; Demand; Supply; Equilibrium; Elasticity; The net benefits of consumption; The net benefits of production |
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The net benefits of marketsThe rational consumer and the role of incentives; Incentives and policy problems; The limits of consumer surplus; Conclusion; Review questions; 3 Ethics for policy analysts; Ethical goals; Utilitarianism; John Rawls and the difference principle; Robert Nozick and the ethics of the minimalist state; The ethics of income redistribution: a graphical analysis; The income transfer process and the ""leaky bucket"" analogy; Conclusion; Review questions; SECTION II Economics for policy analysts; 4 Efficiency and imperfect markets; What is efficiency?; Pareto optimality |
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The competitive market and Pareto optimalityMarket imperfections and inefficiency; Numerical examples of net gains and deadweight loss; Public goods; Conclusion; Review questions; 5 Efficiency and the role of government; Taxes in competitive markets; Other forms of government involvement; A case study: agricultural policy; Government intervention in imperfect markets; Public choice and government failure; Conclusion; Review questions; SECTION III Tools for analyzing public policy; 6 An introduction to benefit-cost analysis; The process of benefit-cost analysis |
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Decision criteria for benefit-cost analysisTypes of policy decisions; Benefits and costs using efficiency concepts; Cost-effectiveness analysis; Weighted net benefits; Conclusion; Review questions; 7 Net benefits over time and present value; Investment versus saving; The present value formula; Present value with infinitely long net benefits; Examples of federal government discount rates; Alternatives to present value; Inflation and the discount rate; Choosing among projects of different lengths; Conclusion; Review questions; Appendix: The Forrest Center for the Arts |
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8 Choosing a discount rateThe ideal market for loans; Distortions in the loans market; The shadow price of capital method; The weighted discount rate; Other issues in choosing a discount rate; Long-term policies and intergenerational equity; Conclusion; Review questions; 9 Risk, uncertainty, and the market for insurance; Measuring risk and uncertainty; Expected value; Decision trees; The expected utility model; Risk aversion and the willingness to pay for insurance; Health, health care, and health insurance; Concepts and issues in insurance markets; Health insurance policy |
| Notes |
Other risk concepts |
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Print version record |
| Form |
Electronic book
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| ISBN |
9781317634690 |
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1317634691 |
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