Jump to ContentJump to Main Navigation
Public Policy InvestmentPriority-Setting and Conditional Representation In British Statecraft$
Users without a subscription are not able to see the full content.

Anthony Bertelli and Peter John

Print publication date: 2013

Print ISBN-13: 9780199663972

Published to Oxford Scholarship Online: January 2014

DOI: 10.1093/acprof:oso/9780199663972.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 02 July 2020

Valuing Public Policies

Valuing Public Policies

(p.69) 5 Valuing Public Policies
Public Policy Investment

Anthony M. Bertelli

Peter John

Oxford University Press

The theoretical mechanism by which the public attributes value to the attention of politicians to public policy topics is the subject of this chapter. Drawing on asset pricing theory from the economics of finance, we provide the theoretical means by which policy capital takes on value for voters. Central to the approach is the responsiveness of public valuations to innovations in competence factors, which impact the value of all policy priorities in different ways. Given pricing information, politicians can select and rebalance the attention they allocate in party manifestos. Once in office, parties can rebalance their policy portfolios through the Speech from the Throne. Vital to the estimation strategy we elaborate in the next chapter are levels of risk and price signal uncertainty that policy portfolios incorporate.

Keywords:   arbitrage pricing theory, price signal, competence factor, policy portfolio, risk, price signal uncertainty

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .