What Does the Public Know about Economic Policy, and How Does It Know It?
A long tradition in economic theory models economic policy decisions as solutions to optimization problems solved by rational and well-informed agents: A single policymaker minimizes a loss function subject to some constraints. Another body of literature models policy decisions as if they were made by well-informed voters in elections of some sort.
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- repec:cup:apsrev:v:77:y:1983:i:01:p:175-190_24 is not listed on IDEAS
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