Reregulation and the regulatory timeline

Peter Molk, Arden Rowell

Research output: Contribution to journalArticle

Abstract

Regulation is often casually conceived of as functioning like a binary on/off switch: as if an area, issue, or industry is either regulated or not. While this binary model of regulation can be useful, it also decontextualizes regulatory decisions from their position in time, and thus obscures important ways by which regulators are constrained and incentivized by past and future decisions. As an alternative, we present a timeline approach to regulation. The timeline approach is particularly helpful in illustrating the ways that earlier regulatory decisions create vestigial effects for later related decisions, and for highlighting the informational advantage that later regulators have over regulators earlier in the timeline. These temporally contextualized qualities are especially important under conditions of reregulation, which arise when a previously deregulated issue is regulated once again. Applying insights from financial option theory, we show how lessons from the timeline approach can be used to enhance regulatory decisionmaking at all stages on the timeline.

Original languageEnglish (US)
Pages (from-to)1497-1533
Number of pages37
JournalIowa Law Review
Volume101
Issue number4
StatePublished - May 2016

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ASJC Scopus subject areas

  • Law

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