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The failure of public policies is ubiquitous. This paper ascribes this failure to the complex system nature of public policies. A key characteristic of complex systems is that they cannot be closely controlled or predicted. Yet the traditional approach to public policy is fundamentally based on...
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We derive a sum rule that constrains the scale based decomposition of the trajectories of finite systems of particles. The sum rule reflects a tradeoff between the finer and larger scale collective degrees of freedom. For short duration trajectories, where acceleration is irrelevant, the sum...
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We develop interpretable, quantitative indices of the objective and subjective complexity of lottery choice problems … important complexity feature in the indices is a measure of the excess dissimilarity of the cumulative distribution functions of … the lotteries in the set. Using our complexity indices, we study behavioral responses to complexity out-of-sample across …
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