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Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/64719
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Manski, Charles F. | | en_US |
| dc.date.accessioned | | 2012-10-16T13:17:33Z | | - |
| dc.date.available | | 2012-10-16T13:17:33Z | | - |
| dc.date.issued | | 2008 | | en_US |
| dc.identifier.pi | | doi:10.1920/wp.cem.2008.1008 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/64719 | | - |
| dc.description.abstract | | This paper develops a broad theme about policy choice under ambiguity through study of a particular decision criterion. The broad theme is that, where feasible, choice between a status quo policy and an innovation is better framed as selection of a treatment allocation than as a binary decision. Study of the static minimax-regret criterion and its adaptive extension substantiate the theme. When the optimal policy is ambiguous, the static minimax-regret allocation always is fractional absent large fixed costs or deontological considerations. In dynamic choice problems, the adaptive minimax-regret criterion treats each cohort as well as possible, given the knowledge available at the time, and maximizes intertemporal learning about treatment response. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Centre for Microdata Methods and Practice London | | en_US |
| dc.relation.ispartofseries | | cemmap working paper CWP10/08 | | en_US |
| dc.subject.jel | | D7 | | en_US |
| dc.subject.jel | | H0 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.stw | | Entscheidungstheorie | | en_US |
| dc.subject.stw | | Politik | | en_US |
| dc.subject.stw | | Präferenztheorie | | en_US |
| dc.title | | Adaptive partial policy innovation: Coping with ambiguity through diversification | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 574281770 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | en_US |
| Appears in Collections: | | cemmap working papers, Centre for Microdata Methods and Practice, Institute for Fiscal Studies (IFS)
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