Peter Grajzl
Washington and Lee University



(Tuesday, 20th May 2008)

Title : The Economics of Self-Regulation: A Comparative Institutional Perspective

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Under a self-regulatory regime, rules and regulations are promulgated and enforced by the industry itself. In comparison with the government, the industry possesses better information and expertise about the regulatory issue at stake. The arrangement with industry-made rules and industry-executed enforcement, however, also entails an inherent bias toward the regulated. Employing an explicitly comparative perspective, this workshop will address both normative and positive aspects of self-regulation as exercise of delegated lawmaking and regulatory powers.

Bibliographical references :

Must read reference : Grajzl, Peter and Peter Murrell. 2007. "Allocating Lawmaking Powers: Self-Regulation vs. Government Regulation." Journal of Comparative Economics, 35:3, 520-545.
Available through ScienceDirect.

Baniak, Andrzej and Peter Grajzl. 2007. "Industry Self-Regulation, Subversion of Justice, and Social Control of Torts." SSRN working paper.
Available at