Can regulation be built to learn? Regulation is often viewed as a single one-time decision, based on ex ante forecasts of uncertain future benefits and costs. But past policies can become mismatches with emerging new conditions. We explore instrument choices to incorporate learning over time, toward a regulatory process of multiple sequential adaptive decisions. Such instruments may include: responding to crises, learning from variation, experimentation, retrospective/ex post reveiw, ongoing periodic review, adaptive licensing, and planned adaptive regulation. In his recent book, Policy Shock (Cambridge University Press 2017), and a new working paper on Adaptive Regulation, we aim to develop a framework for adaptive instrument choice, including regarding the frequency of review, the scope and severity of impacts, the decision maker and discretionary versus automatic adjustments, and implications for the political economy of regulation. This seminar will be given by Jonathan Wiener, William R. and Thomas L. Perkins Professor of Law, Professor of Environmental Policy and Professor of Public Policy at Duke Law School.
Date: Thursday, February 14, 2019
Time: 11:30 AM - 12:45 PM
L-324 FAINSOD ROOM
Sponsor:Mossavar-Rahmani Center for Business and Government
Regulatory Policy Program (RPP)