What Does the Public Know about Economic Policy, and How Does It Know It?
- 1 January 2004
- journal article
- research article
- Published by Project MUSE in Brookings Papers on Economic Activity
- Vol. 2004 (1) , 327-397
- https://doi.org/10.1353/eca.2004.0012
Abstract
A long tradition in economic theory models economic policy decisions as solutions to optimization problems solved by rational and well-informed agents:1 a single policymaker minimizes a loss function subject to some constraints. Another body of literature models policy decisions as if they were made by well-informed voters in elections of some sort.2Keywords
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