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Home > Business and Economics > Economics > Political economy > Knowledge and Incentives in Policy: Using Public Choice and Market Process Theory to Analyze Public Policy Issues(Economy, Polity, and Society)
Knowledge and Incentives in Policy: Using Public Choice and Market Process Theory to Analyze Public Policy Issues(Economy, Polity, and Society)

Knowledge and Incentives in Policy: Using Public Choice and Market Process Theory to Analyze Public Policy Issues(Economy, Polity, and Society)


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About the Book

The relative effectiveness of various institutions, such as the market or government, is based on the ability for individuals to access and use dispersed knowledge in society and the incentives that steer their actions. Market process theory emphasizes the effectiveness of the price system to consolidate and transmit knowledge in the marketplace. Together this framework provides new insights on the capability of individuals to cooperate and improve society, and the limits to government interventions in society. The original research in each chapter uses this economic way of thinking to analyze a variety of public policy issues, examining the incentives responsible for and the factors that contribute to the creation and effectiveness of the policies. These chapters, authored by public policy practitioners and researchers, tackle such pressing issues as public education, the process for approving medical devices, tax policy, and land use regulation.

Table of Contents:
Introduction, Stefanie Haeffele Part I – International Policy Can Governments Create Bureaucratic Structures That Overcome Knowledge and Incentive Problems? An Analysis of the Millennium Challenge Corporation, Rosemarie FikeThe Political Economy of Intervention in the Conflict against ISIS, David WillePart II – Federal Policy FDA Effectiveness Standards: Helpful or Harmful? Anna RiversExit, Voice, and Incentives: An Institutional Analysis of Urban Public School Districts, Rachel ReesePart III – State and Local Policy Firm-Specific Tax Incentives: The Bad and the Ugly, Adam N. MichelA Better Tomorrow: Policy Reform and the Limitations of State-Led Targeted Economic Development, Courtney MichalukThe Political Economy of Casino Licensing: A Case Study on Maryland’s Experience, Candace McTeer MotticeThe Political Economy of D.C. School Choice: An Institutional Analysis of the Opportunity Scholarship Program,Allison KasicStifling Urban Development with Land-Use Regulation: A Case Study of Redevelopment in Tysons Corner, Virginia, Emily HamiltonAbout the Authors

About the Author :
Stefanie Haeffele is the Deputy Director of Academic and Student Programs and a senior fellow for the F. A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center at George Mason University.

Review :
Public policies are frequently driven by a combination of good intentions and special-interest politics. Understanding this, Knowledge and Incentives in Policy applies public choice and market process theory to analyse a diverse array of important public policy topics such as foreign aid, environmental protection, and land-use regulations. Equally important, the authors are as diverse as the topics covered. Knowledge and Incentives in Policy offers a valuable set of analyses of a variety of local, state, national, and international policy initiatives. Each policy effort is scrutinized with respect to its incentive effects and potential knowledge problems. This volume offers a treasure trove of highly pertinent, timely, and useful examples.


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Product Details
  • ISBN-13: 9781786603999
  • Publisher: Bloomsbury Publishing PLC
  • Publisher Imprint: Rowman & Littlefield Publishers
  • Height: 229 mm
  • No of Pages: 302
  • Sub Title: Using Public Choice and Market Process Theory to Analyze Public Policy Issues
  • ISBN-10: 1786603993
  • Publisher Date: 04 Jun 2018
  • Binding: Digital (delivered electronically)
  • Language: English
  • Series Title: Economy, Polity, and Society
  • Width: 152 mm


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