Explain your answers and why in details. Imperfect information is a problem that
ID: 1198828 • Letter: E
Question
Explain your answers and why in details.
Imperfect information is a problem that would go away if the EPA's budget was doubled. generally leads to regulation that is too strict from an efficiency perspective. is a problem which can be relieved by a greater reliance on experts outside, rather than inside, the EPA. leads to a situation in which political influence over regulation can be important, means that lobbying by industry and environmental groups is always harmful. Of the motives that bureaucrats might have, (in addition to pursuing their legislated goal) career building is likely to lead to under-regulation, while agency growth is likely to lead to over-regulation. both career building and agency growth are likely to lead to under-regulation. both career building and job satisfaction are likely to lead to under-regulation. both agency growth and job satisfaction arc likely to lead to under-regulation. both agency growth and job satisfaction arc likely to lead to over-regulation.Explanation / Answer
1. Imperfect Information
is a problem which can be relieved by a greater reliance on experts outside, rather than inside, the EPA. Imperfect information is a situation in which the parties to a transaction have different information, as the people inside formulating the policies of the EPA might not disclose all the details and hence an outside view can prove to be helpful.
2. Of the motives that bureaucrats might have, (in addition to pursuing their legislated goal)
both agency growth and job satisfaction are likely to lead to over regulation, as a bureaucrats are expected to work in regulation and if they achieve according to the expectation and make sure that they have done all in accordance to the rule, then they will be over regulating their career growths.
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