kaal:claim:2267560-027

Private rulemakers can work with and utilize decentralized information continuously, which enables them to react in a timely fashion to emerging, decentralized, and institution-specific information, while public rulemakers are limited in the information they can obtain.

While public rulemakers are limited as to the information they can obtain to enact rules, private rulemakers can work with and utilize decentralized information continuously.

Wulf A. Kaal, Evolution of Law Dynamic Regulation in a New Institutional Economics Framework (2013), III.2 Private vs. Public Rulemaking, p. 9
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

mechanismsupport: argueddynamic-regulationdecentralization

• restated_by kaal:claim:kaal-2014-dynamicregulationviagove-011 Private rulemakers hold a comparative informational advantage over public rulemakers because they can produce ...
• restated_by kaal:claim:2831040-035 Private rulemakers hold a comparative advantage over public rulemakers because they often can produce and acce...
• restated_by kaal:claim:2740477-031 Private rulemakers hold a comparative advantage over public rulemakers because, unlike their public counterpar...
• extended_by kaal:claim:2831040-032 Anticipatory rulemaking in the dynamic framework is accomplished by combining institution specific, decentrali...
• extended_by kaal:claim:kaal-2014-dynamicregulationviagove-012 Interaction and exchange of emerging information between public and private rulemakers creates a feedback proc...

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