The existing framework for optimal rules is self reinforcing: it perpetuates rulemaking processes that produce more optimal rules requiring costly revision, updating, and revocation, so suboptimal rules and suboptimal processes reproduce each other.
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The existing regulatory framework for optimal rules reinforces rulemaking processes that perpetuate optimal rules, necessitating costly rule revision, updating, and revocation.
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Wulf A. Kaal, Erik P.M. Vermeulen, Venture Capital as Dynamic Regulation of Disruptive Innovation (2016), V. Dynamic Regulation as a Regulatory Supplement, p. 25 https://ssrn.com/abstract=2740477 · source PDF
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Wulf A. Kaal, Erik P.M. Vermeulen, Venture Capital as Dynamic Regulation of Disruptive Innovation (2016). SSRN: https://ssrn.com/abstract=2740477
extendskaal:claim:2267560-010 Even institutional arrangements that produce optimal governance solutions generate solutions that become subop...
restated_bykaal:claim:2831040-036 Rules operate as a feedback effect on the rulemaking process itself: rules with suboptimal characteristics res...
restateskaal:claim:2267560-009 Rules with suboptimal characteristics are themselves the product of institutional arrangements and reinforce t...
restateskaal:claim:2267560-011 Rules that lack adaptability to future states of the world reinforce the very institutions and processes that ...
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