Edward Elgar Publishing Policy Over- and Underreaction: Collected Essays

This book presents 12 pioneering essays and a novel introduction on policy over- and underreaction by Moshe Maor, a leading authority on disproportionate policy responses. Maor construes disproportion in an empirical rather than normative manner to improve our understanding of when, why, and how electorally vulnerable political executives and those operating in contexts of declining trust in government and rising negativity and populism resort to disproportionate policy measures. Covering topics such as policy over- and underreaction, intentional disproportionate policy, and policy bubbles, Maor argues that from a political executive’s perspective, proportionate policy is not and should not be considered the ultimate policy aim under all circumstances. He sheds light on the alternative concept of deliberate disproportionate policy, along with the conditions under which such policy response is most likely to occur, and the political and policy benefits this policy offers to its initiators. In developing the disproportionate policy perspective, Maor offers a new way of ‘seeing’ that does not align with any of the dominant policy process theories. This book is invaluable for students and scholars of political science, public policy, democracy and populism. It will also be of great interest to sociologists researching moral panic and economists studying financial bubbles, alongside government officials and policymakers worldwide.