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Law and Economics of Regulation (Hardcover, 1st ed. 2021)
Loot Price: R6,433
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Law and Economics of Regulation (Hardcover, 1st ed. 2021)
Series: Economic Analysis of Law in European Legal Scholarship, 11
Expected to ship within 12 - 19 working days
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This book explores current issues regarding the regulation of
various economic sectors, theoretically and empirically, discussing
both neoclassical and behavioural economics approaches to
regulation. Regulation has become one of the main determinants of
modern economies, and virtually every sector is subject to general
laws and regulations as well as specific rules and standards. A
traditional argument to justify regulatory interventions is the
promotion of public interests. Fixing markets that lack
competition, balancing information asymmetries, internalising
externalities, mitigating systemic risks, and protecting consumers
from irrational behaviour are frequently invoked to complement the
invisible hand of the market with the visible hand of the
state.However, regulations can lead to unintended consequences, and
serve the interests of powerful private interest groups rather than
the public interest and social welfare. In addition, new insights
from behavioural economics question the traditional regulatory
approaches, most prominently in attitudes towards consumers.
Furthermore, digitalisation and technological innovation in general
present new challenges in terms of both the type of regulation and
the regulatory process.Part I of this book discusses various
theoretical approaches to the economic analysis of regulations,
while Part II looks at specific applications of the law and
economics of regulation.
General
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