kaal:claim:2267560-045

Dynamic regulation takes issue with the broad scope of contractual incompleteness and delayed decision-making assumed by the incomplete contract model, contesting the view that such incompleteness and delay are always necessary.

By expanding Kreps's model of organizational culture and applying it to the rulemaking process, dynamic regulation also takes issue with the broad scope of contractual incompleteness and delayed decision-making in the incomplete contract model.

Wulf A. Kaal, Evolution of Law Dynamic Regulation in a New Institutional Economics Framework (2013), IV.2 Organizational Culture, p. 12
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

normativesupport: arguedinstitutional-designdynamic-regulation

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