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The former examine why regulation occurs. These theories include theories of market power, "interest group theories that describe stakeholders' interests in regulation," and "theories of government opportunism that describe why restrictions on government discretion may be necessary for the sector to provide efficient services for customers."
The book showed how operationally meaningful theorems can be described with a small number of analogous methods, thus providing "a general theory of economic theories." It moved mathematics out of the appendices (as in John R. Hicks's Value and Capital ) and helped change how standard economic analysis across subjects could be done with the ...
Regulation theory discusses historical change of the political economy through two central concepts, "regime of accumulation or accumulation regime" (AR) and "mode of regulation" (MR). The concept of regime of accumulation allows theorists to analyze the way production, circulation, consumption, and distribution organize and expand capital in a ...
Health economics is a branch of economics concerned with issues related to efficiency, effectiveness, value and behavior in the production and consumption of health and healthcare. Health economics is important in determining how to improve health outcomes and lifestyle patterns through interactions between individuals, healthcare providers and ...
The public interest theory of regulation claims that government regulation acts to protect and benefit the public. [1] The public interest is "the welfare or well-being of the general public" and society. [2] Regulation in this context means the employment of legal instruments (laws and rules) for the implementation of policy objectives.
Nudge theory has also been applied to business management and corporate culture. For instance, nudge is applied to health, safety, and environment (HSE) with the primary goals of achieving a "zero accident culture." [44] The concept is also used as a key component in a lot of human-resources software.
The history of economic theory and its relevance to contemporary economic theory and policy was one of Ekelund's primary interests. His book with Robert Hebert, "A History of Economic Theory and Method" has entered its sixth edition and has been in continuous publication for five decades. The book illustrates how models can facilitate the ...
The International Organization for Standardization (ISO) and its ISO 37301:2021 (which deprecates ISO 19600:2014) standard is one of the primary international standards for how businesses handle regulatory compliance, providing a reminder of how compliance and risk should operate together, as "colleagues" sharing a common framework with some nuances to account for their differences.
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