Evolution of Law: Dynamic Regulation in a New Institutional Economics Framework

Festschrift in Honor of Christian Kirchner, 2013, Forthcoming

U of St. Thomas (Minnesota) Legal Studies Research Paper No. 13-17

19 Pages Posted: 20 May 2013

See all articles by Wulf A. Kaal

Wulf A. Kaal

University of St. Thomas, Minnesota - School of Law

Date Written: 2013

Abstract

The literature on New Institutional Economics (NIE) evaluates the relationship between public and private rulemaking in the evolution of law. This paper introduces the concept of dynamic regulation as an optimization process for the learning experience in the NIE framework. Dynamic regulation describes intra- and inter-jurisdictional feedback effects between different public rulemakers and between private and public rulemakers. Dynamic elements in the rulemaking process may increase the availability of relevant information for rulemaking and may improve institutional design.

Keywords: new institutional economic, evolution of law, dynamic regulation, rulemaking

Suggested Citation

Kaal, Wulf A., Evolution of Law: Dynamic Regulation in a New Institutional Economics Framework (2013). Festschrift in Honor of Christian Kirchner, 2013, Forthcoming; U of St. Thomas (Minnesota) Legal Studies Research Paper No. 13-17. Available at SSRN: https://ssrn.com/abstract=2267560

Wulf A. Kaal (Contact Author)

University of St. Thomas, Minnesota - School of Law ( email )

MSL 400, 1000 La Salle Avenue
Minneapolis, MN Minnesota 55403-2005
United States

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