Updated in a new 5th edition, this book lays a strong conceptual foundation to understanding the rationales of and limitations to public policy. It gives practical advice about how to do policy analysis while demonstrating the application of advanced analytical techniques through case study examples
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Administration agencies allocation altemative Analysis and Management appropriate assessment behavior beneﬁts blood lead budget changes Chapter choice client competitive consider consumer surplus consumers consumption contract costs and benefits deadweight loss decision demand discussion distribution economic effective efﬁciency equity estimate evaluation example extemalities factors federal ﬁrms fishery framework gasoline lead goals govemment government failure impact categories implementation important incentives income increase individual inﬂuence information asymmetry Institute interests issues journal license loss major marginal cost market failure Metronet natural monopoly opportunity cost organizational organizations Pareto efficiency percent perspective policy alternatives policy analysis political feasibility potential predict preferences production proposed public policy reduce regulation relevant rent rent seeking requires result Review risk rules salmon social costs social surplus social welfare function speciﬁc subsidies supply taxi theory tion Union Cab United utility voting X-inefficiency