Geoff Evaluation Flashcards
What are the 8 evaluation techniques?
- Challenge assumptions
- Consider multiple perspectives
- Elasticity
- Time frame: SR vs LR effects
- Policy combinations
- Risk of government failure
- Risks of non-intervention
- Prioritisation & Trade-offs
What does challenging assumptions mean?
Question the realism, relevance, and universality of key assumptions in the analysis
(perfect information, rationa behaviour, ceteris paribus)
What does consider multiple perspectives mean?
Evaluate from the viewpoint of different stakeholders: consumers, producers, workers, government, future generations
What are the consequences for inequality?
What does elasticity mean?
Assess the importance of PED / PES: how will the responsiveness of consumers / producers affect the likely outcomes of the policy?
What does time frame mean?
Does the policy have different outcomes in the SR vs the LR? Are long term consequences more significant?
What does policy combinations mean?
Would a mix of policies work better than one alone? Complementary measures? (regulation + subsidies)
What does risks of government failure mean?
Could intervention make the situation worse?
d9(unintended consequences, information gaps, administrative costs, regulatory capture)
What does risks of non-intervention mean?
What if the government does nothing? Consider economic and social costs of inaction and long-term damage from market failure
What does prioritisation and trade-offs mean?
Which policies are most cost-effective or politically feasible? Are there trade-offs between equity and efficiency?
