Project Aim

This project is intended to integrate models of Collective Decision-Making Processes (CDMPs) in KTAB with economic models, so as to create hybrid models that endogenously develop and bargain over economic policies. The project will include formal development of hybrid models as well policy-relevant applications to evaluate the utility and effectiveness of the integrated approach. A completed proof of concept study resulted in a KAPSARC Methodology paper (entitled “Toward the Integration of Policymaking Models and Economic Models”), which described a KTAB-style CDMP model fully integrated a simple Leontif economic model. Based on this successful proof of concept, we will next develop a hybrid KTAB-style CDMP model integrated with a Dynamic Stochastic General Equilibrium (DSGE) model. We intend to apply the new hybrid model on a case study based on Saudi Arabia. Unlike most other KTAB studies, this CDMP will use an Enumerated Model of Politics (EMP), rather than the typical spatial model.

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