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Why merit reviews of regulatory decisions are a good thing to have

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  • David Round

Abstract

Regulators are not perfect. The decisions and processes can be in error - and such errors can have large social and economic costs. So there's a need for a mechanism that will correct these errors quickly. As David Round points out, the existence of a merit review process is the sine qua non of a socially optimal regulatory process.

Suggested Citation

  • David Round, 2005. "Why merit reviews of regulatory decisions are a good thing to have," Competition & Regulation Times 375301, New Zealand Institute for the Study of Competition and Regulation.
    • Handle: RePEc:vuw:vuwcrt:375301
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    File URL: https://ojs.victoria.ac.nz/crt/article/view/3753
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