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Policy Bubbles: Policy Overreaction and Positive Feedback.
- Source :
-
Governance . Jul2014, Vol. 27 Issue 3, p469-487. 20p. - Publication Year :
- 2014
-
Abstract
- Drawing on insights from economics, psychology, sociology, political science, and policy sciences, this article proposes a definition and measurement strategies for policy bubbles. A policy bubble is a real and/or perceived policy overreaction that is reinforced by positive feedback over an extended period of time. Positive feedback is here integrated in a model of human herding as the key factor that propels this process but also as a key generator of change. The process is conceptualized in terms of the formation, growth, and burst of policy bubbles. This causal-explanatory understanding of the term allows for the possibility that different modes of policy overreaction lead to different types of human herding, thereby resulting in different types of policy bubbles. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 09521895
- Volume :
- 27
- Issue :
- 3
- Database :
- Academic Search Index
- Journal :
- Governance
- Publication Type :
- Academic Journal
- Accession number :
- 96310935
- Full Text :
- https://doi.org/10.1111/gove.12048