Journal Articles & Working Papers

The Limits of Irrationality as a Rationale for Regulation

May 13, 2015

James Madison was speaking of the structural checks on governmental power when he wrote those words, but it is worth recalling his advice when we contemplate the role of benefit-cost analysis as a check on the unconstrained exercise of the government's regulatory powers, and the implications of the reality that people's behavior, both in and out of government, sometimes falls short of what we might incorporate into an economic model or hope for in a perfect world.

Achieving Regulatory Policy Objectives: An Overview and Comparison of U.S. and EU Procedures

March 10, 2015

The quality and extent of government regulation is “a major determinant of prosperity." As the World Bank observes, “a thriving private sector—with new firms entering the market, creating jobs and developing innovative products—contributes to a more prosperous society,” “promotes growth and expands opportunities for poor people.”

Improving Weight of Evidence Approaches to Chemical Evaluations

December 16, 2014

The Political Transaction Costs and Uncertainties of Establishing Environmental Rights

September 24, 2014

Bank Disclosure and Incentives

August 15, 2014

Korok Ray proposes a microeconomic model of a bank that acts as a financial intermediary engaging in maturity transformation.

Administrative Procedures and Political Control of the Bureaucracy

August 1, 2014

Positive theorists have argued that administrative procedures enhance political control of the bureaucracy, in part by predisposing agencies toward policy choices preferred by legislators' favored constituents. Although this “deck-stacking” argument has been both influential and controversial, few scholars have subjected it to empirical examination. This article assesses the operation of a prominent administrative procedure—the notice and comment process—in the context of Medicare physician payment reform, a fundamental restructuring of the way in which the Medicare program pays for physician services.

Determining the Proper Scope of Climate Change Benefits

June 3, 2014

Comment on Löfstedt’s ‘The substitution principle in chemical regulation: a constructive critique’

January 2, 2014

Online Consultation and Citizen Feedback in Chinese Policymaking

September 1, 2013

In recent years, the Chinese government has increasingly utilised online consultation as a means of providing citizens with opportunities to offer feedback on draft laws and regulations. As little is known about the operation of online consultation, this article analyses the content of citizen feedback submitted on a revision to China's health system proposed by the National Development and Reform Commission.

EPA’s Retrospective Review of Regulations: Will it Reduce Manufacturing Burdens?

May 17, 2013