English, Article, Journal or magazine article edition: Signaling Commitment by Excessive Spending Amihai Glazer; Stef Proost

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Bookmark: http://trove.nla.gov.au/version/33915
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Signaling Commitment by Excessive Spending
Author
  • Amihai Glazer
  • Stef Proost
Physical Description
  • preprint
Notes
  • A policy is often more effective the more confident are economic agents that the current leader (or principal) will adopt the policy. This paper considers uncertainty about the principal's type, interpreted as uncertainty about the probability that he would adopt a project or policy. We show how a principal who highly values the project can signal that valuation by committing to spend a minimum on the project, even if canceling the program would entail waste, Indeed, the amount committed to spend may exceed the project's cost.
  • Government spending; Signaling; Commitment
  • RePEc:irv:wpaper:070811
Language
  • English
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