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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.
A person's regulatory mode is correlated with regulatory fitness.They display their optimal level of performance in addition to valuing the end goals. In Avnet and Higgin's study (2004), the participants paid more for the book-light when their decisions were based on their regulatory orientation—either locomotion or assessment. [3]
In 2000, Higgins developed regulatory fit theory, proposing that people experience fit when using means of goal pursuit that align with their regulatory orientation: vigilant or eager. [8] Also in 2000, Higgins and Arie Kruglanski developed regulatory mode theory , which describes two complementary self-regulatory functions: assessment and ...
Interstate Commerce Commission (ICC) as Barrier-to-Competition: Applications-to-Operate vs In-Operation. For public choice theorists, regulatory capture occurs because groups or individuals with high-stakes interests in the outcome of policy or regulatory decisions can be expected to focus their resources and energies to gain the policy outcomes they prefer, while members of the public, each ...
Regulatory compliance in the European Union (EU) is governed by a harmonized legal framework designed to ensure consistency across member states while allowing for national implementation. EU compliance regulations cover various industries, including consumer product safety, financial services, environmental protection, and data privacy.
Stigler is best known for developing the Economic Theory of Regulation (1971), also known as regulatory capture, which says that interest groups and other political participants will use the regulatory and coercive powers of government to shape laws and regulations in a way that is beneficial to them.
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 ...
Fear the Boom and Bust is a 2010 hip hop music video in which 20th century economists John Maynard Keynes and Friedrich von Hayek (played by Billy Scafuri and Adam Lustick, respectively) take part in a rap battle discussing economics, specifically, the boom and bust business cycle, for which the video is named.