Analyzing Policy Choices, Conflicts and Practices

ISBN-10: 0393973999

ISBN-13: 9780393973990

Edition: 2000

Authors: Michael C. Munger

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This readable and comprehensive introduction to the principles of public-policy analysis is the first book to integrate the tools students need to analyze policies with the common sense they need to understand how real policies are made. Analyzing Policy not only helps students learn the conceptual foundations of policy analysis, but it also empowers them to apply what they learn and to engage in their own analysis.
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Book details

Copyright year: 2000
Publisher: W. W. Norton & Company, Incorporated
Publication date: 8/9/2000
Binding: Paperback
Pages: 448
Size: 6.00" wide x 9.00" long x 0.75" tall
Weight: 1.628
Language: English

Michael C. Munger is a Professor of Political Science and Economics and the Director of the Philosophy, Politics, and Economics program at Duke University. He formerly served as a staff economist at the US Federal Trade Commission. He has published four books and has written for the American Journal of Political Science, the American Political Science Review, the Journal of Law and Economics, and the Journal of Politics. He was North American editor of Public Choice from 2006 to 2010 and is a past president of the Public Choice Society. He currently co-edits The Independent Review. Munger has won three teaching awards at Duke, and he gave the 2012 Toby Davis Lecture at George Mason University.

Policy Analysis as a Profession and a Process: An Overview
The Process of Policy Analysis
Policy Analysis as Part of a Broader Profession: Expert Advice on Policy
Looking Ahead
Deciding How to Decide: "Experts," "The People," and "The Market"
The State of Nature: No Policies
Public Decisions Versus Collective Decisions
A Benchmark for Performance: The Market
Overview of Markets
Opportunity Costs and Scarcity
How Do Markets Work?
Looking Inside Market Processes
A Prison Camp Economy
"Evaluation and Market Failure": Criteria for Intervention
Tools for Evaluating Policy
The Rationale for Government Intervention: The Market Failures Perspective
Experts and "Advocacy": The Limits of Policy Analysis
Is Policy Analysis "Value Neutral"?
Alternatives to the Value-Neutral Focus on Market Efficiency
What Is the "Best" Alternative?
Democratic Decisions and "Government Failure": The Limits of Choice by the People
The General Problem of Decision
Institutions: The Choice of a Decision Rule
Alternative Decision Rules
A Place of One's Own
The Welfare Economics Paradigm
The Representation of Preferences
Individual Demand and Consumer Surplus
Market Demand
Cost, Marginal Cost, and Prices
Market Supply and Equilibrium
Public Goods and Externalities
Choice of Regulatory Form: Efficiency, Equity, or Politics
Markets versus Experts
Markets versus Politics
Experts versus Politics
Social Security Crisis?
Discounting I: Expected Values, Probability, and Risk
Risk Discounting Using Probability
Basic Concepts of Probability
The Logic and Language of Probability
General Rules of Probability
Risk Aversion
Decision Analysis
Discounting II: Time
Interest and the Rental Price of Money
Discount Rates: Getting Back from the Future
Net Present Value: Combining Future Costs and Benefits
The Internal Rate of Return and the "Public" Discount Rate
Cost-Benefit Analysis
Cost and Benefits Can Be Measured, and Added Up, in Dollars
Risks of Failure and Chances of Success Can Be Captured through Probability Discounting
Future and Present Values Can Be Measured Using Time Discounting
Cost-Benefit Analysis in Action
Review of the Policy Analysis Approach
Ideology as a Template for Policy Decision
Priming, Framing, and Attention: The Psychological Model
Final Remarks
Answers to Selected Problems and Questions
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