# Regulatory theory

`kaal:entity:regulatory-theory`

**Status.** derived

This node is assembled mechanically from the 3 claims that carry the concept tag `regulatory-theory`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

3 claims across 3 works, 2016 to 2019.

**2016**

- [2808132-016](https://wulfkaal.github.io/claims/2808132-016) [condition/argued] -- The ex post facts-based approach to rulemaking worked historically because the optimal requirements for rules only become clear once stable and presumptively optimal rules have already emerged as suboptimal; the availability of that information is therefore a prerequisite for rulemaking.
  > change. The ex-post facts-based approach to rulemaking has functioned in the existing regulatory framework because optimal requirements for rules do become clear when stable and presumptively optimal rules emerge as suboptimal. A prerequisite for
  Wulf A. Kaal, Erik P.M. Vermeulen, How to Regulate Disruptive Innovation - From Facts to Data (2016). SSRN: https://ssrn.com/abstract=2808132
- [2811729-035](https://wulfkaal.github.io/claims/2811729-035) [mechanism/argued] -- The proliferation of unconstrained mutual funds has contributed to the confluence of mutual and private funds and weakened the traditional public/private distinction in federal securities regulation.
  > The proliferation of UMFs has contributed to the confluence of mutual and private funds, and weakened the traditional public/private distinction in federal securities regulation.
  Wulf A. Kaal, Unconstrained Mutual Funds and Retail Investor Protection (2016). SSRN: https://ssrn.com/abstract=2811729

**2019**

- [3405660-030](https://wulfkaal.github.io/claims/3405660-030) [design/asserted] -- Applying the Basel Framework to hedge fund regulation conforms to the requirements of incomplete contract theory, which supplies the theoretical justification for the indirect approach.
  > Applying the Basel Framework to hedge fund regulation is in conformity with the requirements of incomplete contract theory.
  Kaal, Indirect Regulation of Hedge Funds (2019). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3405660

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/regulatory-theory.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.