kaal:claim:2267560-006

Trial-and-error rulemaking is suboptimal because participating actors acquire the necessary information ex-post, only after rules have turned out to be suboptimal, rather than increasing the availability of relevant information ex-ante.

is suboptimal for rulemaking because, rather than increasing the availability of relevant information ex-ante (through a dynamic process as proposed in this paper), participating actors acquire the necessary information ex-post after rules turn out to be suboptimal.

Wulf A. Kaal, Evolution of Law Dynamic Regulation in a New Institutional Economics Framework (2013), II.1 Dynamic Regulation in the NIE Framework, p. 4
https://ssrn.com/abstract=2267560 · source PDF

Wulf A. Kaal, Evolution of Law Dynamic Regulation in a New Institutional Economics Framework (2013). SSRN: https://ssrn.com/abstract=2267560

failuresupport: arguedfailure: ex-post information acquisition in trial-and-error rulemakingfamily: regulatory-lagdynamic-regulation

• restated_by kaal:claim:kaal-2014-dynamicregulationviagove-015 The trial and error approach to rulemaking structurally prevents rulemakers from obtaining relevant informatio...
• extended_by kaal:claim:3441904-034 Feedback effects in decentralized systems raise the availability of relevant information for governance rules ...
• extended_by kaal:claim:2273857-042 Increasing the availability of relevant information for rulemaking through a countercyclical and dynamic proce...
• extended_by kaal:claim:2957645-011 Feedback effects change the timing of regulatory information: instead of acquiring necessary information only ...
• extended_by kaal:claim:2740477-016 Ex post trial and error rulemaking requires as a precondition that information about optimized rule requiremen...
• extended_by kaal:claim:2957645-012 Anticipatory regulation, which uses institution-specific and timely information together with feedback effects...
• extended_by kaal:claim:kaal-2014-dynamicregulationviagove-014 Feedback effects allow the necessary information to be acquired ex ante and necessary revisions to be anticipa...

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