Title: Institutional mechanisms for efficient policy
First published: 1993
Description: This monograph introduces the concept of a decision externality and shows how it plays a key role in diagnosing reasons why the design or operation of specific political and bureaucratic institutions may not be consistent with economic efficiciency. A decision externality arises when a key decision maker does not have sufficient incentive to take into account all the important consequences of their actions for economic welfare.
Subjects: Policy sciences, Government productivity, Public administration, Decision making, Economic welfare, Externality
Places: Canada
LC classification: JL108 .H47 1993