A signal is only informative if it’s costly enough that it can’t be faked. The logic runs through Spence’s job market model, through deterrence theory, through free speech doctrine, through protest and repression, through campaign finance. Posts under this tag are about situations where the cost of the message is the message — and what happens when the cost structure changes.
President Obama proposed his 2014 budget this week. A huge document, it contains a number of interesting policy proposals. One that is attracting a lot of attention concerns the “chained CPI.” In a nutshell, this change will reduce the rate of growth in social security payments over the next decade. Overall, the proposal arguably represents a compromise with … Read more
In my previous post, I discussed the Senate’s consideration of a continuing resolution (or CR) that includes some provisions relevant to gun control. In so doing, I mentioned a form of unanimous consent agreement, or UCA, (like this one) that the Senate has been using for consideration of measures that would presumably otherwise fail to obtain … Read more
The Senate is considering a continuing resolution (CR) that both extends funding operations of the federal government through the rest of the fiscal year (Sept. 30, 2013) and also makes permanent several provisions that stymie enforcement of gun control laws. While the reality is that the provisions in the Senate bill do not represent a significant change in … Read more
In light of my take on last night’s legislative shenanigans, a few very smart people have asked me, in a sense, “sure, perhaps, but do you REALLY think that’s what happened?” Most of these objections (and the media’s narrative) suggest that Boehner thought he had enough votes for H.J.Res.66 and, upon seeing the too-close-for-comfort on HR 6684, … Read more
Note: a road map is in order. I first describe what happened tonight in the House of Representatives. Then I discuss one game theoretic take on Boehner’s “pulling of `Plan B’…” Tonight, the House of Representatives passed a rule, H.Res.841, that called for the consideration of two measures, HR 6684, and H.J.Res.66. Both of these … Read more
To all you single guys out there, it’s not how you start the date, it’s how you finish it, sir. A lot of people can, you know, start the date with flowers and candy, but if you don’t finish the date – you know what I mean? — Shaquille O’Neal Budget negotiations are kind of like … Read more