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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]
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.
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.
A policy framework is a document that sets out a set of procedures or goals, which might be used in negotiation or decision-making to guide a more detailed set of policies, or to guide ongoing maintenance of an organization's policies. Policy framework or specific frameworks may refer to: Sender Policy Framework; Security Policy Framework
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.
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 ...