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Regulatory focus theory (RFT) is a theory of goal pursuit [1]: 444 formulated by Columbia University psychology professor and researcher E. Tory Higgins regarding people's motivations and perceptions in judgment and decision making processes.
Regulation in the social, political, psychological, and economic domains can take many forms: legal restrictions promulgated by a government authority, contractual obligations (for example, contracts between insurers and their insureds [1]), self-regulation in psychology, social regulation (e.g. norms), co-regulation, third-party regulation, certification, accreditation or market regulation.
The financial, research, and pharmaceutical regulatory structures in one country, for example, may be similar but with particularly different nuances in another country. These similarities and differences are often a product "of reactions to the changing objectives and requirements in different countries, industries, and policy contexts". [7]
Regulatory economics is the application of law by government or regulatory agencies for various economics-related purposes, including remedying market failure, protecting the environment and economic management.
During their terms, both U.K. Prime Minister David Cameron and U.S. President Barack Obama may have sought to employ nudge theory to advance domestic policy goals in their respective countries. [37] In 2008, the United States appointed Cass Sunstein, who helped develop the theory, as administrator of the Office of Information and Regulatory ...
The U.S. policy framework contrasts with that of some of its major trading partners: the European Union, Japan, South Korea, China, Australia and New Zealand either have or are establishing separate mandatory labeling requirements for products containing genetically modified organisms. This framework governed specific agency policies.
The term regulatory state refers to the expansion in the use of rulemaking, monitoring and enforcement techniques and institutions by the state and to a parallel change in the way its positive or negative functions in society are being carried out. [1] The expansion of the state nowadays is generally via regulation and less via taxing and ...
The most critiqued aspects of public interest theory are its ambiguity, and its inability to recognize/address imperfections in the regulatory regime. Further, it provides no framework for assessing when and if the public interest has been served. Another issue is whether the integrity of the regulatory function is maintainable over time.