E conomic models with multiple equilib-ria, such as Diamond and Dybvig (1983), have become increasingly useful in analyzing volatility in financial markets and in business cycles. In many of these models, indeterminacy is a result of incomplete financial markets or technological nonconvexities. Here we identify economic policy discretion to be another distinct cause of indeterminate equilibrium...

Recent writers have invoked the idea that epistemic rationality gives us options in an attempt to show that we can exercise direct doxastic control without irrationality. Speci cally, they suggest that when the evidence for p is su cient but not conclusive, it would be rational either to believe p or to be agnostic on p, and they hold that we can in these cases e ectively decide to form either ...

This paper provides an empirical framework to evaluate regulatory discretion and apply it to California water quality regulation. We identify and estimate an adverse selection model of the regulator-discharger interaction to measure the extent to which the regulator’s environmental preferences and administrative or political costs affect penalties and compliance. We find that if the regulator p...

Background The implications of decentralisation on human resource for health management has not received adequate research attention despite the presupposition that the concept of decentralisation leads to the transfer of management authority and discretion for human resource management from national levels to subnational levels. This study aims at investigating the extent to which decent...

Prior research has shown that the well-being of employees engaged in intensive work can vary with discretion their jobs afford regarding how and when to carry out work. This article explores a different avenue. It argues also varies employees’ individual motives for working intensively. The introduces self-determination theory domain intensity focuses on two hypotheses. first is whether driven ...