Empirically Informed Regulation

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Empirically Informed Regulation

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Title: Empirically Informed Regulation
Author: Sunstein, Cass Robert
Citation: Cass Sunstein, Empirically Informed Regulation, 78 U. Chi. L. Rev. 1349 (2011).
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Abstract: In recent years, social scientists have been incorporating empirical findings about human behavior into economic models. These findings offer important insights for thinking about regulation and its likely consequences. They also offer some suggestions about the appropriate design of effective, low-cost, choice-preserving approaches to regulatory problems, including disclosure requirements, default rules, and simplification. A general lesson is that small, inexpensive policy initiatives can have large and highly beneficial effects. In the United States, a large number of recent practices and reforms reflect an appreciation of this lesson. They also reflect an understanding of the need to ensure that regulations have strong empirical foundations, both through careful analysis of costs and benefits in advance and through retrospective review of what works and what does not.
Published Version: http://lawreview.uchicago.edu/sites/lawreview.uchicago.edu/files/uploads/78_4/Sunstein_Essay.pdf
Other Sources: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2128806
Terms of Use: This article is made available under the terms and conditions applicable to Open Access Policy Articles, as set forth at http://nrs.harvard.edu/urn-3:HUL.InstRepos:dash.current.terms-of-use#OAP
Citable link to this page: http://nrs.harvard.edu/urn-3:HUL.InstRepos:10849725
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