kaal:claim:2267560-042

Assessing the sufficiency of information by rulemakers alone can lead to suboptimal results because path dependencies may lead decision-makers to believe they control sufficient information for rulemaking when in fact they do not.

Source quote, verbatim

The sufficiency of information in this model, if assessed by rulemakers alone, could lead to suboptimal results. Path dependencies may lead decision-makers to believe they control sufficient information for rulemaking when they in fact do not.

From

Wulf A. Kaal, Evolution of Law Dynamic Regulation in a New Institutional Economics Framework (2013), IV.1 Optimizing the Learning Process, footnote 9, p. 11
https://ssrn.com/abstract=2267560 · source PDF

Cite as

Wulf A. Kaal, Evolution of Law Dynamic Regulation in a New Institutional Economics Framework (2013). SSRN: https://ssrn.com/abstract=2267560

Holds when

sufficiency of information assessed by rulemakers alone

Classification

failuresupport: arguedfailure: illusory information sufficiency from path dependencefamily: regulatory-lagdynamic-regulation

Related claims

restated_by kaal:claim:kaal-2014-dynamicregulationviagove-010 In the current model of stable rulemaking, path dependencies lead rulemakers to act on a boundedly rational as...

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