Optimal Destabilisation, Active Learning, and the Choice of Step Length in Policy Reform

A theoretical model is presented in which the decision marker's choice of step length for reform is allowed to depend on the consequences which this is expected to have for the accuracy of information about the structure of the economy. Also, destabilisation by means of introducing variance into policies, is desirable under some circumstances since it speeds up the learning process.


Issue Date:
Jul 07 1985
Publication Type:
Working or Discussion Paper
DOI and Other Identifiers:
Record Identifier:
https://ageconsearch.umn.edu/record/269230
Language:
English
Total Pages:
38




 Record created 2018-03-05, last modified 2020-10-28

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