kaal:claim:kaal-2014-dynamicregulationviagove-004

Dynamic elements function as an economizing device: they address the scarcity of regulatory resources and lower the cost of rulemaking by curtailing the collective action problem in rulemaking, the resulting regulatory cycles, and trial and error rulemaking.

Dynamic elements in the regula- tory infrastructure can be conceptualized as an economizing device that addresses the scarcity of regulatory resources and lowers the cost of rule- making by curtailing the effects of a classic collective action problem in rule- making, resulting regulatory cycles

Kaal, Dynamic Regulation via Governmental Contracts (2014), II. Dynamic Regulation, p. 8
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Kaal, Dynamic Regulation via Governmental Contracts (2014)

mechanismsupport: arguedeconomicsinstitutional-design

• extends kaal:claim:2273857-020 Financial regulation is characterized and controlled by a classic collective action problem, and as a conseque...
• extends kaal:claim:2273857-022 During and after crises, political entrepreneurs assume the transaction costs of organizing otherwise disinter...
• extends kaal:claim:2273857-023 Once crises recede, regulatory oversight diminishes as societies and markets return to their prior equilibrium...

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