Regulation consists of rulemaking and enforcement. Economic theory offers two complementary rationales for regulating … arise in multi- party relationships and that regulation introduces opportunities to impose rules that enhance the welfare of … discretion and choose actions for the common good. Agency-cost theories portray regulation as a way to raise the quality of …

This paper sets forth a discussion framework for the information requirements of systemic financial regulation. It …

well functioning political institutions and good public policy outcomes in the Western World since the time of ancient … new puzzle: such an intellectual tradition did not exist in the Islamic world, even if the potential for abuse was …

Regulation of economic activity is ubiquitous around the world, yet standard theories predict it should be rather … uncommon. I argue that the ubiquity of regulation is explained not so much by the failure of markets, or by asymmetric … accounts for the ubiquity of regulation, for its growth over time, as well as for the fact that contracts themselves are …

, environmental, and other litigation has functioned as an alternative form of regulation, the debate asks whether policy-making or … regulation by litigation is more or less socially desirable than more traditional policy-making by ex ante rule-making by …Rather, we seek to show that any form of regulation that is dominated by high-salience particular cases is highly …