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Toward the Integration of Policymaking Models and Economic Models

Ben Wise, Andrew Howe and Brian Efird
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Brian Efird: King Abdullah Petroleum Studies and Research Center

Methodology Papers from King Abdullah Petroleum Studies and Research Center

Abstract: The traditional economic approach to policy analysis is to utilize tools and methods developed within the field of economics and study the economic impact of one or more policies solely from an economic perspective. As a consequence, the “policies” are usually formulated and evaluated only by an assessment of the pure economic optimality of expected outcomes. Moreover, economic models typically treat policy choices as exogenously specified. Once policies are selected according to some exogenous process, then scenario analysis can be performed to simulate the economic impact of those policies.

Keywords: Collective Decision Making Processes (CDMPs); KAPSARC Toolkit for Behavioral Analysis (KTAB); Policy analysis; Policymaking models; Probabilistic Condorcet Elections (PCE) (search for similar items in EconPapers)
Date: 2017-05-31
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