Management-Based Regulation: Using Private-Sector Management to Achieve Public Goals
We examine a rapidly emerging regulatory approach that we label "management-based regulation." Management-based regulation shifts the locus of policy discretion from the government regulator to the regulated entity. Government directs private firms to incorporate public goals into their management practices, and provides general guidelines by which private management will be judged. We outline the conditions under which management-based regulation is likely to be an appropriate government strategy and discuss three applications of this approach.
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- Robert N. Stavins, 1998. "What Can We Learn from the Grand Policy Experiment? Lessons from SO2 Allowance Trading," Journal of Economic Perspectives, American Economic Association, vol. 12(3), pages 69-88, Summer.
- Revesz, Richard L. & Stavins, Robert N., 2007. "Environmental Law," Handbook of Law and Economics, Elsevier.
- Hahn, Robert W. (ed.), 1996. "Risks, Costs, and Lives Saved: Getting Better Results from Regulation," OUP Catalogue, Oxford University Press, number 9780195211740.
- Komesar, Neil K., 1994. "Imperfect Alternatives," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226450889, March.
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