Self-regulation encompasses a wide range of arrangements, from private ordering without resort to legal rules to state-enforced systems of delegated rules. Transaction cost analysis has been used to explain how private ordering emerges, and the advantages, but also the difficulties, of state delegation have been illustrated using a comparative approach. While public choice theory, as supported by empirical studies, suggests that rent-seeking is inherent in delegated self-regulatory regimes, institutional structures capable of controlling this phenomenon can be envisaged. The role of morally motivated self-regulation and corporate social responsibility is also discussed.

Self-Regulation

CARBONARA, EMANUELA;
2011

Abstract

Self-regulation encompasses a wide range of arrangements, from private ordering without resort to legal rules to state-enforced systems of delegated rules. Transaction cost analysis has been used to explain how private ordering emerges, and the advantages, but also the difficulties, of state delegation have been illustrated using a comparative approach. While public choice theory, as supported by empirical studies, suggests that rent-seeking is inherent in delegated self-regulatory regimes, institutional structures capable of controlling this phenomenon can be envisaged. The role of morally motivated self-regulation and corporate social responsibility is also discussed.
Production of Legal Rules
228
252
E. Carbonara; A. Ogus
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11585/113826
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