make new regulations more economically efficient. First, before designing a regulation, regulators should define the … problem the regulation is supposed to address, which should include determining whether a widespread and systemic problem …

make new regulations more economically efficient. First, beforedesigning a regulation, regulators should define the problem … the regulation is supposed to address, which should include determining whether a widespread and systemic problem exists …

Electricity', Journal of Law and Economics, 5, October, 1-16 -- George J. Stigler (1971), 'The Theory of Economic Regulation … of Regulation', Journal of Law and Economics, 19 (2), August, 211-40 -- Harold Demsetz (1968), 'Why Regulate Utilities …-27 -- Richard A. Posner (1971), 'Taxation by Regulation', Bell Journal of Economics and Management Science, 2 (1), Spring, 22 …