Markets sometimes fail. But so do regulatory efforts to correct market failures. Sometimes regulations reach too far, condemning good activities as well as bad, and sometimes they don't reach far enough, allowing bad behavior to persist. In this highly instructive book, Thomas A. Lambert explains the pitfalls of both extremes while offering readers a manual of effective regulation, showing how the best regulation maximizes social welfare and minimizes social costs. Working like a physician, Lambert demonstrates how regulators should diagnose the underlying disease and identify its symptoms, potential remedies for it, and their side effects before selecting the regulation that offers the greatest net benefit. This book should be read by policymakers, students, and anyone else interested in understanding how the best regulations are crafted and why they work.
Cass R. Sunstein - Robert Walmsley University Professor, Harvard University, Massachusetts, and former Administrator, White House Office of Information and Regulatory Affairs
Douglas H. Ginsburg - Chief Judge, United States Court of Appeals for the District of Columbia Circuit
* Views captured on Cambridge Core between 30th August 2017 - 18th November 2017. This data will be updated every 24 hours.