Defenitios

Question 1

Data

Answer 1

Facts collected

Question 2

Information

Answer 2

Data with “meaning”

Question 3

Evidence

Answer 3

Information that affects the existing beliefs of people about features of problems you are studying

Question 4

Market Failure

Answer 4

technical properties of good or service

Question 5

Market Failure reasons

Answer 5

1. making it hard to collect payment
2. hard to collect true cost of good or service
3. hard for consumers to know true quality of good or service
4. cost of producing marginal unit not worth it based on demand

Question 6

Define Complementarity

Answer 6

when two or more activities complement each other to be more productive

Question 7

example of complementarity

Answer 7

increased public works construction can combat unemployment

Question 8

define development

Answer 8

sequence of operations may be arranged to take advantage of developmental process

Question 9

example of development

Answer 9

welfare agency can assess clients for employability before sending them out to search for a job

Question 10

Define exchange

Answer 10

unrealized possibilities for exchange can increase social value.

Question 11

example of exchange

Answer 11

reimbursing an agency for services it renders to another agency’s clients or customers

Question 12

alternatives

Answer 12

policy options, alternative courses of actions, alternative strategies of intervention to solve problem

Question 13

Dominance

Answer 13

when one policy choice is clearly more efficient than the rest (more effective, more economical)

Question 14

Garbage can theory

Answer 14

solutions looking for a problem.

solutions that exist waiting for problems to exist

Question 15

Moral hazard (undesirable side effect)

Answer 15

insulating people from the consequences of their own choices

-unemployment benefits = people don’t look for jobs

Question 16

Rent seeking (undesirable side effect)

Answer 16

seeking govt help to carve out economic nich for them, for example asking them to regulate their competition, so they are left with no competition

Question 17

Twenty Dollar Bill Test

Answer 17

Why hasnt anyone picked it up yet?

why hasnt anyone thought about your idea of its so good

Question 18

Grandma Bessie test

Answer 18

Must be able to enunciate what you are trying to do in less than minute, must go back to drawing board

Question 19

Iteration

Answer 19

re-examine what you are doing, constantly making choices

Question 20

example of iteration

Answer 20

redefining the problem

Question 21

unanticipated consequences

Answer 21

consequences that were not known when the policy was invented
-issues created by policy that were not known

Question 22

Emergent

Answer 22

issue that arises rapidly and you must confront it

Question 23

Increments

Answer 23

many choices will be made upon incremental differences
-all outcomes are in/decrements

-something counts .25 cents more/less and that makes you choice it

Question 24

System Models

Answer 24

• market models
• Production models
• Conformity models
• evolutionary models

Question 25

values and philosophy

Answer 25

integrated in 4th step
-a possible criteria is a standard used to judge the goodness of a projected policy outcome that are associated with each of the alternatives

Question 26

burden of justification

Answer 26

even if you lay out options and attach projected outcomes to them, you still cannot escape justifying the projections