Economics Dictionary of ArgumentsHome
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| Regulatory economics: Regulatory economics is the application of economic principles to the design and evaluation of government regulations. It aims to ensure that regulations are effective, efficient, and consistent with economic principles. Regulatory economists use cost-benefit analysis, game theory, and behavioral economics. See also Behavioral economics, Costs, Benefit, Economic policies._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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Friedrich A. von Hayek on Regulatory Economics - Dictionary of Arguments
Mause I 377 Regulatory Economics/Hayek: Competition and regulatory economic thinking is based on the primacy of the market as a decentralised coordination mechanism of supply and demand. This is due to the proof of the impossibility of centralised coordination of individual supply and demand behaviour.(1)(2) A decentralised coordination mechanism is therefore needed to manage scarce goods. >Markets, >Competition. 1. Friedrich von Hayek, 1945. The use of knowledge in society. American Economic Review 35 (4): 519– 530. 2. Fr. A. von Hayek. 1968. Der Wettbewerb als Entdeckungsverfahren. Kieler Vorträge Neue Folge, Bd. 56. Kiel: Institut für Weltwirtschaft._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
Hayek I Friedrich A. Hayek The Road to Serfdom: Text and Documents--The Definitive Edition (The Collected Works of F. A. Hayek, Volume 2) Chicago 2007 |
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