Short description
This study attempts to transcend current debates on government regulation by outlining how regulations can be a fruitful combination of persuasion and sanctions. The authors draw on empirical studies and game theory to illustrate innovative solutions to this problem.
Long description
This book transcends current debate on government regulation by lucidly outlining how regulations can be a fruitful combination of persuasion and sanctions. The regulation of business by the United States government is often ineffective despite being more adversarial in tone than in other nations. The authors draw on both empirical studies of regulation from around the world and modern game theory to illustrate innovative solutions to this problem. Their ideas include an argument for the empowerment of private and public interest groups in the regulatory process and a provocative discussion of how the government can support and encourage industry self-regulation.
Review
Ayres's and Braithwaite's discussion of the culture and sociology of regulation is an interesting and useful addition to the literature. --Journal of Economic Issues
Their [Ayres and Braithwaite] argument combines economic and sociological applications to surpass the polarized theoretical debate over free markets versus government regulation and to develop a richer understanding of regulatory alternatives that will be valuable for practitioners and scholars of regulatory policy alike. --American Journal of Sociology
Well researched and written, it merits the attention of persons curious about regulation from many perspectives. --The Annals of the American Academy of Political and Social Science
For students of regulation and policymakers alike, this is a wonderfully useful book. It is lively, informed, constructive, and chock-full of practical suggestions and invitations to further research. For those slumbering in current regulatory dogmas, this is a welcome wake-up call. --Contemporary Sociology
Ian Ayres and John Braithwaite have set about to improve regulation. They are well qualified to do so. --Critical Review