kaal:claim:2267560-037

A classic collective action problem controls rulemaking: smaller and better organized special interest groups usually dominate latent groups such as dispersed investors in the competition to shape rules.

A classic collective action problem controls rulemaking. In the competition to shape rulemaking, smaller and better organized special interest groups usually dominate latent groups (such as dispersed investors) (Olson 1965).

Wulf A. Kaal, Evolution of Law Dynamic Regulation in a New Institutional Economics Framework (2013), IV.1 Optimizing the Learning Process, p. 11
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: evidencedfailure: special interest dominance in rulemakingfamily: regulatory-capture-and-incumbent-advantageinstitutional-designregulatory-failuredynamic-regulation

• generalizes kaal:claim:2273857-021 In the competition to shape financial policy through rulemaking, small and well organized special interest gro...
• extended_by kaal:claim:kaal-2014-dynamicregulationviagove-008 Because rulemaking is subject to regulatory cycles and to a classic collective action problem, rules are gener...
• extended_by kaal:claim:kaal-2014-dynamicregulationviagove-017 The inadaptability of stable and presumptively optimal rules intensifies competition between well organized sp...
• extended_by kaal:claim:2740477-028 Adaptive rulemaking reduces the collective action problem because with fewer stable rules, latent majority gro...
• extended_by kaal:claim:2808132-029 Adaptive rulemaking helps overcome the collective action problem of rulemaking because when there are fewer st...
• extended_by kaal:claim:2808132-034 A core problem for most regulation is its inaccurate and delayed timing, which follows from the collective act...
• extended_by kaal:claim:2808132-028 The collective action problem of rulemaking, the problems of trial-and-error rulemaking, and the problems of r...

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