Performance-based regulation is widely heralded as a superior approach to regulation. Rather than specifying the actions regulated entities must take, performance-based regulation instead requires the attainment of outcomes and gives flexibility in how to meet them. Despite nearly universal...

Each year, independent regulatory agencies — such as the Federal Communications Commission, Nuclear Regulatory Commission, and Securities and Exchange Commission — issue highly consequential regulations. When they issue their regulations, however, they do not have to meet the same...

Administrative agencies issue many guidance documents each year in an effort to provide clarity and direction to the public about important programs, policies, and rules. But these guidance documents are only helpful to the public if they can be readily found by those who they will benefit....

Technological innovation is changing private markets around the world. New advances in digital technology have created new opportunities for subtle and evasive forms of anticompetitive behavior by private firms. But some of these same technological advances could also help antitrust regulators...

Voluntary codes and standards issued by nongovernmental institutions affect many aspects of legal work and daily life. Although these codes and standards are voluntary—that is, they are not directly enforceable through civil or criminal penalties—they can and do often shape behavior. Codes...

As conventionally understood, social movements, law reform, and society interact in a unidirectional fashion. Social movements seek to secure law reform; in turn, changes in the law bring about changes in society. While this conventional understanding may be helpful for some purposes, it is an...

This paper offers a retrospective assessment of economist George Stigler's classic article, The Theory of Economic Regulation. Stigler argued that regulation is a product that, just like any other product, is produced in a market, and that it can be acquired from the governmental...

Much entrepreneurial growth in the United States today emanates from technological advances that optimize through contextualization. Innovations as varied as Airbnb and Uber, fintech firms and precision medicine, are transforming major sectors in the economy by customizing goods and services as...

In an increasingly globalized world, international rules and organizations have grown ever more crucial to the resolution of major economic and social concerns. How can leaders design international institutions that will effectively solve global regulatory problems? This paper confronts this...

Analysis is a tool for making important legislative and regulatory decisions but it is also a way of looking back to see whether decisions made in the past have been good ones. How well have legal rules actually worked in practice? Answering this question is crucial, not only for improving...