The quest for good and better regulation is not new. While traditionally relatively simple theories of market failure have provided the rationale for economic regulation, more modern theories of regulation focus on the design of optimal regulatory systems that need to balance various objectives such as static and dynamic efficiency and further policy objectives. Relatively little attention has been paid to the optimal design of regulatory agencies and "regulatory eco-systems". Professor Haucap will outline how theories of regulation have recently developed and how new insights from the theory of political economy and behavioural economics affect our view on optimal regulation and the optimal design of regulatory agencies.
About Justus Haucap
Professor Dr Justus Haucap is LEANZ's 2017 Friedlander Visiting Scholar, joining us from the Düsseldorf Institute for Competition Economics (DICE). He has served as a Chairman of the German Monopolies Commission, and is acting Vice Chair of the council of scientific advisors to Germany's Federal Networks Agency. He brings a wealth of experience in the application of research-based economics to competition and regulation issues in a wide range of sectors (including in New Zealand, where he once worked at Treasury). While in New Zealand, Professor Haucap will be presenting numerous public and private seminars on policy-relevant questions.
Note: Papers, presentation slides and any other material provided by the Guest Lecturer will be made available some time after the lecture at Publications > Media & Speeches > Guest Lectures by Visiting Academics.