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Budget procedures are often adopted or changed to improve "transparency" in budgeting. This phrase can refer to two different, although related, stages of the budget process. First, transparency may refer to the outputs of budgeting; here the ideal is that the tradeoffs inherent in a budget...
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In a standard analysis, the history of civil liberties is characterized by a series of security panics. A range of mechanisms - cognitive heuristics and biases, various forms of cascading and herding, conformity and preference falsification, and so on - cause periodic panics in which aroused...
Persistent link: https://www.econbiz.de/10014066672
Many-minds arguments claim that in some way or another, groups of decision-makers tend to make better decisions than individuals. This essay identifies five general and recurring problems with such arguments, as follows:(1) Whose minds? The group or population whose minds are at issue is often...
Persistent link: https://www.econbiz.de/10012764870
Legal and constitutional theory has focused chiefly on the risk that voters and legislators will trust an ill-motivated executive. This paper addresses the risk that voters and legislators will fail to trust a well-motivated executive. Absent some credible signal of benign motivations, voters...
Persistent link: https://www.econbiz.de/10014055736