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10 cards from this deck
Intervention creates worse resource allocation than original problem
DICE: Distortion, Information gaps, Consequences, Excessive costs
Signals to guide resource allocation
Moves prices away from market equilibrium, distorts allocation
Knock-on effects across markets not anticipated in design
When implementation costs exceed benefits of intervention
Lack of accurate data leads to poorly targeted/calibrated policies
Marginal costs must not exceed marginal benefits
18p/litre (>5g/100ml), 24p/litre (>8g/100ml)
Originally £520m estimated, fell to £240m by implementation
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