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Jahrbücher für Nationalökonomie und Statistik
SummaryA popular argument about economic policy under uncertainty states that decentralisation offers the possibility to learn from local or regional policy experiments. Often, an analogy between market competition as a discovery procedure and political competition is used to corroborate this argument. We argue that political learning processes are not trivial and do not occur frictionlessly: Voters have an inherent tendency to retain a given stock of policy-related knowledge which was costlydoi:10.1515/jbnst-2008-0406 fatcat:7jytajcq3fcxthgf3zp44brnpi