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This paper argues that skill formation is a life-cycle process and develops the implications of this insight for Scottish social policy. Families are major producers of skills, and a successful policy needs to promote effective families and to supplement failing ones. We present evidence that...
Persistent link: https://www.econbiz.de/10013318811
exogenously given and the provision of a public good is financed through a proportional tax. Voters and politicians do not know … information trap. …
Persistent link: https://www.econbiz.de/10011416913
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Many governments have engaged in policy experimentation in various forms to resolve uncertainty and facilitate learning. However, little is understood about the characteristics of policy experimentation, and how the structure of experimentation may affect policy learning and policy outcomes. We...
Persistent link: https://www.econbiz.de/10013322750
experiment with 743 subjects whether small-scale, seemingly negligible, events also affect the formation of risk preferences. In … second lottery almost a year later. The same pattern emerges in another experiment with 136 subjects where the second lottery …
Persistent link: https://www.econbiz.de/10012657858
experiment with 743 subjects whether small-scale, seemingly negligible, events also affect the formation of risk preferences. In … second lottery almost a year later. The same pattern emerges in another experiment with 136 subjects where the second lottery …
Persistent link: https://www.econbiz.de/10012607585
experiment with 743 subjects whether small-scale, seemingly negligible, events also affect the formation of risk preferences. In … second lottery almost a year later. The same pattern emerges in another experiment with 136 subjects where the second lottery …
Persistent link: https://www.econbiz.de/10012607807
experiment with 743 subjects whether small-scale, seemingly negligible, events also affect the formation of risk preferences. In … second lottery almost a year later. The same pattern emerges in another experiment with 136 subjects where the second lottery …
Persistent link: https://www.econbiz.de/10012607969
upon its consumption. This information is used to improve choice from the follow-on menu. This implies a trade-off between … consumption value and information leading to experimentation. I provide a behavioral definition of experimentation. While the …
Persistent link: https://www.econbiz.de/10011744296