Primer on reforms in a second-best ambiguous environment : a case for gradualism /
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| Author / Creator: | Erbas, S. Nuri. |
|---|---|
| Imprint: | [Washington, D.C.] : International Monetary Fund, ©2002. |
| Description: | 1 online resource (55 pages) : illustrations |
| Language: | English |
| Series: | IMF working paper, 2227-8885 ; WP/02/50 IMF working paper ; WP/02/50. |
| Subject: | |
| Format: | E-Resource Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/13510571 |
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| 100 | 1 | |a Erbas, S. Nuri. | |
| 245 | 1 | 0 | |a Primer on reforms in a second-best ambiguous environment : |b a case for gradualism / |c S. Nuri Erbaş. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, |c ©2002. | ||
| 300 | |a 1 online resource (55 pages) : |b illustrations | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF working paper, |x 2227-8885 ; |v WP/02/50 | |
| 504 | |a Includes bibliographical references (pages 51-55). | ||
| 506 | |3 Use copy |f Restrictions unspecified |2 star |5 MiAaHDL | ||
| 533 | |a Electronic reproduction. |b [Place of publication not identified] : |c HathiTrust Digital Library, |d 2010. |5 MiAaHDL | ||
| 538 | |a Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. |u http://purl.oclc.org/DLF/benchrepro0212 |5 MiAaHDL | ||
| 583 | 1 | |a digitized |c 2010 |h HathiTrust Digital Library |l committed to preserve |2 pda |5 MiAaHDL | |
| 588 | 0 | |a Print version record. | |
| 520 | |a Ambiguity, as opposed to uncertainty, reflects lack of sufficient information about distribution and payoffs of infrequent events. Reforms are infrequent events, undertaken in ambiguous second-best environments where bad reform outcomes are feasible. A general case for the gradualist reform strategy is that it may pay to defer some reforms until relevant information about possible reform outcomes and associated probabilities is revealed, and ambiguity is reduced over time. Gradualism may dominate the big bang strategy, if some of the reforms in a reform sequence are not sure bets and waiting costs do not dominate reversal costs under some information sets forthcoming over time. The relation to Ellsberg's Paradox is discussed. Some cases for and against gradualism are reviewed. | ||
| 546 | |a English. | ||
| 650 | 0 | |a Uncertainty |x Econometric models. | |
| 650 | 0 | |a Ambiguity |x Econometric models. | |
| 650 | 0 | |a Probabilities |x Econometric models. | |
| 650 | 6 | |a Incertitude |x Modèles économétriques. | |
| 650 | 6 | |a Ambiguïté |x Modèles économétriques. | |
| 650 | 6 | |a Probabilités |x Modèles économétriques. | |
| 650 | 7 | |a Uncertainty |x Econometric models. |2 fast |0 (OCoLC)fst01160833 | |
| 655 | 4 | |a Electronic books. | |
| 710 | 2 | |a International Monetary Fund. |b Middle Eastern Department. |0 http://id.loc.gov/authorities/names/no93027012 | |
| 776 | 0 | 8 | |i Print version: |a Erbas, S. Nuri. |t Primer on reforms in a second-best ambiguous environment. |d [Washington, D.C.] : International Monetary Fund, ©2002 |w (OCoLC)49570361 |
| 830 | 0 | |a IMF working paper ; |v WP/02/50. |0 http://id.loc.gov/authorities/names/no89010263 | |
| 856 | 4 | 0 | |u http://elibrary.imf.org/view/journals/001/2002/050/001.2002.issue-050-en.xml |y INTERNATIONAL MONETARY FUND |
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| 928 | |t Library of Congress classification |a HG3881.5.I58W67 no.02/50 |l Online |c UC-FullText |u http://elibrary.imf.org/view/journals/001/2002/050/001.2002.issue-050-en.xml |z INTERNATIONAL MONETARY FUND |g ebooks |i 13653390 | ||