A Primer for Policy Analysis

by Edith Stokey

A Primer for Policy Analysis is an overview of economic theory as it is applied to environmental problems. It does not, however, consider other approaches to such problems. In their book, Stokey and Zeckhauser argue that policy-making decisions are economic decisions and economic theory is applicable to policy-making.

Genres: Public Policy, Economics, Politics, Reference, Nonfiction

368 pages, Paperback

First published June 1, 1978

Reviews

[Wyliena Guan · Rating 3 out of 5]

Primarily read for educational purposes and to look into the prospect of going into public policy. Good exposure but boring. Nice to see that a ton of things nicely go into decision making, linear algebra, economics, etc. Besides that, bit of strategies and knic-knacks.

[Liam · Rating 5 out of 5]

"If the stock is large relative to the flow, which is likely when inflows survive for a long time in the stock, dramatic changes in inflows or outflows will not significantly affect stock size. ... [But] [o]scillations ... are frequently observed in stock-flow situations." (69)

"[W]ith regular Markov chains we may draw two conclusions about the long-run probabilities: (1) for the long run, the probability of being in a particular state approaches an equilibrium value that is independent on the state that the individual is in initially; (2) these equilibrium probabilities may be interpreted as the percent of time spent with each state over the very long run." (107)

"Decision analysis can tell us when our preferred policy choices are robust and when they are sensitive to the numbers assumed in the analysis. If they are sensitive, decision analysis will help us identify which assumptions are critical and which don't matter much. It cannot resolve debates about underlying values, but it is of great assistance when we must engage in a discussion about the implications of alternative sets of values." (236)

"Remember that the world will never beat a pathway to your door just because you build a better model; analysis is worthless if it can't be communicated to others. The watchword, therefore, is: 'Keep it simple.' The purpose is to inform the decision maker, not to overwhelm him. Analysis should be presented in such a way that the essential points can be readily grasped, and, if necessary, debated." (329)

[Sus · Rating 3 out of 5]

Almost more a math workbook than anything else. Is solid and useful for outlining several analytical models for policy work.

[Nyenweyeka Nyusa]

a good read