Real Options Theory for Lawmakers (notice n° 546752)
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| fixed length control field | 01327cam a2200217 4500500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20250121114319.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Deffains, Bruno |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | Real Options Theory for Lawmakers |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2009.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 47 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | The formulation of legal rules is a challenging issue for lawmakers. Trade-offs are inevitable between providing more guidance through specific rules and enlarging the scope of general rules. Using real options theory, we show that the degree of precision should be considered as a degree of flexibility which increases the value of the text. Thus, we derive a normative principle for a draftsman to choose between rules versus standards, and to decide when the law should be enacted. In highly innovating environments, delaying enactment allows lawmakers to obtain more information. Therefore, the lower the degree of precision of the law, the shorter the delay. |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | degree of precision |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | exibility |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | obsolescence |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | rulemaking |
| 700 10 - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Obidzinski, Marie |
| Relator term | author |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Recherches économiques de Louvain | 75 | 1 | 2009-04-06 | p. 93-117 | 0770-4518 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/journal-recherches-economiques-de-louvain-2009-1-page-93?lang=en&redirect-ssocas=7080">https://shs.cairn.info/journal-recherches-economiques-de-louvain-2009-1-page-93?lang=en&redirect-ssocas=7080</a> |
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