kaal:claim:2267560-034

Contractual incompleteness can be lowered through dynamic processes within the rulemaking process, because dynamic elements improve the availability, timeliness, and quality of information via the feedback process.

This paper suggests that contractual incompleteness can be lowered through dynamic processes within the rulemaking process in the incomplete contract model. Through the feedback process, dynamic elements help to improve the availability, timeliness, and quality of information.

Wulf A. Kaal, Evolution of Law Dynamic Regulation in a New Institutional Economics Framework (2013), IV. Dynamic Regulation in the Incomplete Contract Model, p. 10
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-regulationinstitutional-design

• generalizes kaal:claim:kaal-2014-dynamicregulationviagove-031 Feedback processes associated with governmental contracts lower contractual incompleteness, because they raise...
• restated_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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