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Primeron Reforms in a Second-Best Ambiguous Environment

Primeron Reforms in a Second-Best Ambiguous Environment »

Source: Primeron Reforms in a Second-Best Ambiguous Environment : A Case for Gradualism

Volume/Issue: 2002/50

Series: IMF Working Papers

Author(s): S. Erbas

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2002

ISBN: 9781451846980

Keywords: reform, sequencing, gradualism, big bang, uncertainty, ambiguity, flexibility, reform outcomes, reform package, expected value

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 whe...

Primeron Reforms in a Second-Best Ambiguous Environment
			: A Case for Gradualism

Primeron Reforms in a Second-Best Ambiguous Environment : A Case for Gradualism »

Volume/Issue: 2002/50

Series: IMF Working Papers

Author(s): S. Erbas

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2002

DOI: http://dx.doi.org/10.5089/9781451846980.001

ISBN: 9781451846980

Keywords: reform, sequencing, gradualism, big bang, uncertainty, ambiguity, flexibility, reform outcomes, reform package, expected value

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 whe...