Dynamic regulatory tools lower unforeseen contingencies in rulemaking because the feedback effect supplies relevant, timely, decentralized, and institution-specific information ex ante, allowing rulemakers to adapt to contingencies as they arise.
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because a feedback effect provides relevant, timely, decentralized, and institution-specific information ex-ante. By increasing the availability of information ex-ante, dynamic regulatory tools help lower unforeseen contingencies in the rulemaking process.
From
Wulf A. Kaal, Erik P.M. Vermeulen, How to Regulate Disruptive Innovation - From Facts to Data (2016), IV. Dynamic Regulation as a Regulatory Supplement, p. 24 https://ssrn.com/abstract=2808132 · source PDF
Cite as
Wulf A. Kaal, Erik P.M. Vermeulen, How to Regulate Disruptive Innovation - From Facts to Data (2016). SSRN: https://ssrn.com/abstract=2808132
Holds when
rulemaking supplemented by dynamic regulatory tools generating feedback
extendskaal:claim:2267560-044 Parties in the incomplete contract model cannot adapt to unforeseen contingencies because they cannot specify ...
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