Institutional Design and Public Policy. A Microeconomic Perspective

Revista de Economia Institucional, Vol. 1, July-December, 1999

44 Pages Posted: 22 Nov 2003

See all articles by Kenneth J. McKenzie

Kenneth J. McKenzie

University of Calgary - Department of Economics; University of Calgary - The School of Public Policy

Abstract

This survey article provides a microeconomic perspective of institutional design and public policy, focusing on the way the relations between voters, politicians and bureaucrats produce efficients outcomes in public policy. It points out the relevance of information and monitoring costs, competition and the structural features of institutions in the search of efficient results, and the way social scientists explain the failures of the political and burocratic markets.

Note: Downloadable paper is in Spanish.

Keywords: institucional design, public policy, information costs, political markets, bureaucracy, public choice

JEL Classification: D72, D73, D89

Suggested Citation

McKenzie, Kenneth, Institutional Design and Public Policy. A Microeconomic Perspective . Revista de Economia Institucional, Vol. 1, July-December, 1999, Available at SSRN: https://ssrn.com/abstract=445921 or http://dx.doi.org/10.2139/ssrn.445921

Kenneth McKenzie (Contact Author)

University of Calgary - Department of Economics ( email )

2500 University Drive, NW
Calgary, Alberta T2N 1N4
Canada

University of Calgary - The School of Public Policy

Calgary, Alberta
Canada