Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/32323 
Year of Publication: 
2007
Series/Report no.: 
Diskussionsbeitrag No. 118
Publisher: 
Albert-Ludwigs-Universität Freiburg, Institut für Verkehrswissenschaft und Regionalpolitik, Freiburg i. Br.
Abstract: 
The aim of this paper is to show that regulatory risk is due to the discretionary behaviour of regulatory agencies, caused by a too extensive regulatory mandate provided by the legislator. The normative point of reference and a behavioural model of regulatory agencies based on the positive theory of regulation are presented. Regulatory risk with regard to the future behaviour of regulatory agencies is modelled as the consequence of the ex ante uncertainty about the relative influence of interest groups in the regulatory process. The problem of regulatory risk is analysed separately in competitive network areas and in non-competitive network areas. For both cases a specific measure of regulatory risk is proposed. But measurement and compensation are different issues. The im-possibility of compensating for regulatory risk is demonstrated. Finally, the disaggregated regulatory mandate is presented as an institutional reform approach.
Document Type: 
Working Paper

Files in This Item:
File
Size
206.65 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.