Is it Possible to Relax Ceteris Paribus Assumption in Economic Models?

Estrada, Mario Arturo Ruiz; Yap, Su-Fei; Nagaraj, Shyamala

doi:10.2139/ssrn.996382

Cited by 1 publication

(2 citation statements)

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“…In this paper, the PMC index model is used to quantitatively evaluate the ecological protection compensation policies issued by the state. The PMC index model is proposed by Estrada [ 16 ] based on the Omnia Mobilis hypothesis [ 54 ], which holds that everything in the world is moving and connected, and that all relevant variables should be considered as much as possible in the modeling and no relevant variables should be removed. The construction process consists of the following four steps: classification of variables and identification of parameters; creation of multi-input–output tables; measurement of PMC indices; and construction of PMC surfaces.…”

Section: Methodsmentioning

confidence: 99%

“…Therefore, it is imperative to explore a new method to examine the quality of individual policies based on the policy making itself. The PMC index model was proposed by Ruiz Estrada [ 16 ], the Omnia Mobilis (everything is moving) hypothesis [ 54 ], in 2010. By establishing a multidimensional evaluation index system based on text mining, this method can effectively judge the consistency of policies, and reduce the subjectivity of evaluation and cost of policy analysis.…”

Section: Literature Reviewmentioning

confidence: 99%

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Quantitative Evaluation of China’s Ecological Protection Compensation Policy Based on PMC Index Model

Dai

Zhang

Lan

2022

IJERPH

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As a comprehensive benefit coordination mechanism, ecological protection compensation has received increasing attention internationally. China has also introduced a series of policies to promote ecological protection compensation mechanism improvement. The evaluation of ecological protection compensation policies is the main basis for the formulation, adjustment and improvement of the policy. Based on the front-end perspective of policy formulation, this paper selects 10 ecological protection compensation policies issued by the State Council and various ministries in China from 2006 to 2021. A text mining-based PMC index evaluation system using the ROSTCM tool is constructed to quantitatively evaluate these 10 typical policies, and four representative policies are selected for comparative analysis. The overall design of China’s ecological protection compensation policies is reasonable, and 5 out of 10 policies have good PMC index scores, which are: P1, P2, P5, P7 and P9; and 5 are at acceptable levels, which are: P3, P4, P6, P8 and P10. However, the PMC surface and the concavity index indicate that there are still some limitations that need to be improved, including the obvious internal differentiation of the policies, the single effectiveness of the policies, and the insufficient incentive and guarantee measures. Finally, this paper provides suggestions for the optimization of ecological protection compensation policies accordingly.

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Section: Methodsmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%