A core problem for most regulation is its inaccurate and delayed timing, which follows from the collective action problem of regulation, path dependencies, and political inertia rather than from any single institutional defect.
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Dynamic elements in rulemaking can help optimize the timing of rule enactment. A core problem for most regulation is its inaccurate and delayed timing. Because of the collective action problem of regulation, path dependencies, and political inertia, among
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
most regulation in the existing framework
regulation that follows business cycles rather than preceding crises
Classification
mechanismsupport: arguedfailure: Inaccurate and delayed regulatory timingfamily: regulatory-laginstitutional-designregulatory-failure
Related claims
restateskaal:claim:2740477-030 Regulation is mostly reactive and follows business cycles rather than preempting crises, because of the collec...
extendskaal:claim:2273857-053 The core problem for financial regulation is timing: governance improvements are not enacted before crises whe...
extendskaal:claim:2267560-037 A classic collective action problem controls rulemaking: smaller and better organized special interest groups ...
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