Optimal Destabilisation, Active Learning, and the Choice of Step Length in Policy Reform

Geoff Frewer

No 269230, Economic Research Papers from University of Warwick - Department of Economics

Abstract: A theoretical model is presented in which the decision marker's choice of step length for reform is allowed to depend on the consequences which this is expected to have for the accuracy of information about the structure of the economy. Also, destabilisation by means of introducing variance into policies, is desirable under some circumstances since it speeds up the learning process.

Keywords: Agricultural and Food Policy; Research Methods/Statistical Methods (search for similar items in EconPapers)
Pages: 38
Date: 1985-07-07
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uwarer:269230

DOI: 10.22004/ag.econ.269230

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