Real Options Theory for Law Makers (notice n° 837280)
[ vue normale ]
| 000 -LEADER | |
|---|---|
| fixed length control field | 02409cam a2200289 4500500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20250123141025.0 |
| 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 Law Makers |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2009.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 46 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | RésuméLa formulation des règles juridiques est un véritable défi pour les producteurs de droit. Des arbitrages sont inévitables entre des règles spécifiques et des règles générales. Les premières apportent de la précision dans les signaux envoyés aux agents, les secondes ont un champ d’action plus large. En utilisant la théorie des options réelles, nous montrons que le degré de précision d’une règle peut être analysé comme un degré de flexibilité qui accroît la valeur de cette règle. Ainsi, nous dérivons un principe normatif pour les producteurs de droit confrontés aux choix entre règles et standards et devant décider de la date d’application de d’une nouvelle règle. Nous montrons en particulier que plus le degré de précision de la règle est faible, plus le délai optimal diminue.Classification JEL – C61, G12, K00, K40. |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | AbstractThe formulation of legal rules is a challenging issue for lawmakers. Trade-offs are inevitable between providing more guidance by specific rules and enlarging the scope by 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 the enactment allows lawmakers to obtain more information. Therefore, the lower the degree of precision of the law, the shorter the delay.JEL Classification – C61, G12, K00, K40. |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | règles |
| 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 | standards |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | production de droit |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | flexibilité |
| 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/revue-recherches-economiques-de-louvain-2009-1-page-93?lang=en&redirect-ssocas=7080">https://shs.cairn.info/revue-recherches-economiques-de-louvain-2009-1-page-93?lang=en&redirect-ssocas=7080</a> |
Pas d'exemplaire disponible.
Réseaux sociaux