Evidence for the Irrationality of Governmental Policy

T.L. Brunell and Amihai Glazer

Working Papers from California Irvine - School of Social Sciences

Abstract: We examine three measures of governmental policy: state gasoline taxes, the federal discount rate, and the prime of interest rate (which though set by banks is subject to political influence). All three variables show evidence of irrationality: they are not scale invariant (and thus violate Benford's Law) and show an aversion to use of the ten.

Keywords: PUBLIC POLICY; IRRATIONALITY; GOVERNMENT (search for similar items in EconPapers)
JEL-codes: H10 H50 (search for similar items in EconPapers)
Pages: 16 pages
Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:fth:calirv:98-99-7

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