kaal:claim:2267560-024

Unlike ordinary private ordering, where formalization of informal rules can be a lengthy process that is never finalized, formalization of informal rules in the dynamic process happens sooner and is more likely to succeed if those informal rules provide relevant information for public rulemaking.

the formalization of informal rules in the dynamic process may happen sooner and is more likely to succeed and be finalized if the informal rules provide relevant information for the public rulemaking process.

Wulf A. Kaal, Evolution of Law Dynamic Regulation in a New Institutional Economics Framework (2013), III.1 Formal vs. Informal Rules, p. 8
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

• informal rules provide relevant information for the public rulemaking process

mechanismsupport: arguedrisk-and-incentivesdynamic-regulation

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