000			01110nam a22001457a 4500
999			_c525209 _d525209
008			240215b ||||| |||| 00| 0 eng d
100			_aLi, Fei and Zhou, Jidong _949958
245			_aA model of sequential crisis management
260			_aAmerican Economic Journal: Microeconomics
300			_a15(4), Nov, 2023: p.319-349
520			_aWe propose a model of how multiple societies respond to a common crisis. A government faces a "damned-either-way" policymaking dilemma: aggressive intervention contains the crisis, but the resulting good outcome makes people skeptical about the costly response; light intervention worsens the crisis and causes the government to be faulted for not doing enough. When multiple societies encounter the crisis sequentially, due to this policymaking dilemma, late societies may underperform despite having more information, while early societies can benefit from a dynamic counterfactual effect.- Reproduced https://www.aeaweb.org/articles?id=10.1257/mic.20220107
773			_aAmerican Economic Journal: Microeconomics
906			_aCRISES MANAGEMENT
942			_cAR