Policy errors in executive and legislative decision-making |
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Authors: | Randall G. Holcombe Dmitry Ryvkin |
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Affiliation: | 1. Department of Economics, Florida State University, Tallahassee, FL, 32306, USA
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Abstract: | Policy makers get information about the likely outcomes of policy options from experts before they make their decisions. In the executive branch, policy experts tend to reflect the views of the chief executive, whereas in the legislative branch members seek policy advisors whose views reflect their own. The result is a more diverse group of policy advisors in the legislative branch than in the executive branch, which under plausible conditions generates more accurate policy projections. Policy errors will tend to be smaller in legislative than in executive decision-making, providing an argument for making policy decisions in the legislative branch rather than the executive branch. |
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