Why the Devil Wears Prada : The Fashion Formation Process in a Simultaneous Disclosure Game Between Designers and Media
This paper focuses on the incentives political and bureaucratic actors face in the institutional setting of EU technology policy. In examining the implications and assumptions of neoclassical and evolutionary theories of technological change, it tries to answer why some approaches are difficult to translate into policy designs. By focusing on positive policymaking the paper examines why policy learning does not occur in certain institutional settings. A special focus is on the informational constraints that limit policy design. Since evaluation and oversight mechanisms have not been sufficiently developed and accepted within EU settings, there is much room for inefficiency, as a basic agency model with hidden information shows. If political planners have incomplete information about the state of the world, programs cannot be designed efficiently. Hence, a better link between evaluation and program design could reduce inefficiencies. Regarding this point, current discussions in U.S. policymaking seem to focus increasingly on program design effects and policy implementation.