Because competition between legislators requires public rulemakers to meet consumers' and legal addressees' quality expectations and preferences, it adds a dynamic and market-driven element with a feedback effect to the rulemaking process.
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Because the competition between legislators requires public rulemakers to meet consumers' and legal addressees' quality expectations and preferences, the competition between legislators adds a dynamic and market-driven element with a feedback effect to the rulemaking process.
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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
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Wulf A. Kaal, Evolution of Law Dynamic Regulation in a New Institutional Economics Framework (2013). SSRN: https://ssrn.com/abstract=2267560
restated_bykaal:claim:2831040-037 Consumer choice adds a dynamic element to rulemaking because once consumers opt out of a suboptimal regulatory...
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