Scholarly research demonstrates that Regulatory Impact Analysis often falls short of the standards articulated in executive orders and Office of Management and Budget guidance. More often than not, agencies do not appear to use the Regulatory Impact Analysis to inform major decisions. Regulatory...

This paper compares the quality and use of regulatory analysis accompanying economically significant regulations proposed by US executive branch agencies in 2008, 2009, and 2010. We find that the quality of regulatory analysis is generally low, but varies widely. Budget regulations, which define...

Independent regulatory agencies face increasing pressure to conduct high-quality economicanalysis of regulations, similar to the regulatory impact analysis conducted by executive branchagencies. Such analysis could be required by evolving judicial doctrines, regulatory reformstatutes, or...

In public procurement a temporal separation of award and actual contracting can frequently be observed. In this paper we give an explanation for this institutional setting. For incomplete procurement contracts we show that such a separation may increase efficiency. We show that efficiency can be...

The determinants of incentive regulation are an important issue in economics. More powerful rules relax allocative distortions at the cost of lower rent extraction. Hence, they should be found where the reformer is more concerned with stimulating investments by granting higher expected profits,...

The determinants of incentive regulation are a key issue in economics. More powerful rules relax allocative distortions at the cost of lower rent extraction. Thus, they should be found where the reformer is more concerned about incentivizing investments through higher expected profits, and where...

The determinants of incentive regulation are an important issue in economics. More powerful rules relax allocative distortions at the cost of lower rent extraction. Hence, they should be found where the reformer is more concerned with stimulating investments by granting higher expected profits,...

In a simplifying analytical framework with endogenous levels of actual and self-reported emissions, we consolidate the existing literature into three main hypotheses about the relative merits, for a resource-constrained regulator, of random (RAM) and competitive (CAM) audit mechanisms in the...