CHAPTER 4
Public Policy – The Institutions and Collective Decision-Making
The purpose of this chapter is to present an interesting synopsis of the Role of Institutions in public policy decision-making. In this chapter, we will first study the theoretical foundations of the decision-making process, particularly group decision-making, and the advantages and disadvantages of group decision-making. In addition, we will discuss the classical or rational model and the administrative or bounded rationality model of group decision-making. Knowing the decision theory and its types will greatly enhance the understanding of the student about decision-making. Hence, we will discuss the six major theories like descriptive theory, normative theory, Condorcet’s ...
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