kaal:claim:2267560-051

The combination of multiple feedback processes results in a sequence of mutually-reinforcing, information-enhancing events that minimizes ex-post trial-and-error experimentation with stable rules after those rules have already emerged as failures.

The combination of these feedback processes can result in a sequence of mutually-reinforcing, information- enhancing events. This process can help minimize ex-post trial-and-error experimentation with stable and presumptively optimal rules after previous stable rules have emerged as failures.

Wulf A. Kaal, Evolution of Law Dynamic Regulation in a New Institutional Economics Framework (2013), V. Conclusion, p. 14
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: arguedinstitutional-designdynamic-regulation

• restated_by kaal:claim:2957645-012 Anticipatory regulation, which uses institution-specific and timely information together with feedback effects...
• restated_by kaal:claim:kaal-2014-dynamicregulationviagove-002 Anticipatory dynamic elements in regulation reduce the need for costly and suboptimal ex post trial and error ...

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