ABSTRACT
Public policy can be defined as an officially enacted and ready to implement course of action taken by government, to realize a specific objective or goal as part of the political agenda of a ruling political regime in a state. In this chapter, different models of public policy creation have been examined. While factors determining policy formulation have been listed. Classic policy types have been discussed, with the broad categories laid out. Policy evaluation and analysis is an emerging sub-discipline. The last section discusses how to approximate the ideal of rational decision making and optimal outcomes in spite of inhibiting factors. Although no conclusions can be reached, regarding the possibility of attaining “rational” decisions, it would be possible to believe in the institutional analysis pioneered by Ostrom, that with certain institutional infrastructure and input, it is possible to reach an agreement and simultaneously achieve an optimal outcome in spite of the deficiencies in individual or collective public decisions.
