Editor’s Note: CRE, as is the case with many other organizations, is routinely asked by transition teams associated with incoming Administrations to provide a list of high priority regulatory proposals. In response to incoming and expected additional requests we have delineated below, designated either as underway or planned, the items we believe should be accorded the highest priority prior to embarking on other initiatives.
The Executive: Actions Completed
Arming the President; rebalancing the regulators
Establishment of Centralized Regulatory Review
Establishment of the Office of Information and Regulatory Affairs
Publication of the Unified Agenda
Administration of the Data Quality Act
Management of Federal Databases
The Congress: Action Underway
Arming the Congress
Implementation of a Regulatory Budget
The Courts: Actions Planned
Rebalancing the Courts
The Public: Action Underway
Arming the Public
Developing a National Constituency for OIRA
Background Information
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Regulatory Equilibrium is the state in which both the proponents and opponents of regulation are present in concentrations which have no further tendency to change with time and leads to a maximization of social welfare.*
*CRE is focusing its attention only on that subset of a large number of legislative and administrative proposals which are most effective in dealing with the regulatory state as measured by their contribution to regulatory equilibrium. We have concluded that the implementation of a regulatory budget is one such mechanism. The aforementioned definition of regulatory equilibrium (above, CRE March 2016) is substantiated in part by the general theory of Competitive Regulatory Equilibrium by Goodman and Porter.
Gayer Regulatory Equilibrium Listokin | Posner | Peltzman | Becker | Public Choice | Shughart
Nash Equilbrium @ 19 regulatory-equilbrium-levi
See the application of differential game theory to institutional conflict.
