Governmental Failures in Evaluating Programs
AbstractConsider a government that adopts a program, sees a noisy signal about its success, and decides whether to continue the program. Suppose further that the success of a program is greater if people think it will be continued. This paper considers the optimal decision rule for continuing the program, both when government can and cannot commit. We find that welfare can be higher when information is poor, that government should at times commit to continuing a program it believes had failed, and that a government which fears losing power may acquire either too much or too little information.
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Bibliographic InfoPaper provided by University of California Transportation Center in its series University of California Transportation Center, Working Papers with number qt4jd2q25f.
Date of creation: 01 Jan 1994
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