Week 1A: Introduction to Market Regulation

Question 1

How does one define market regulation

Answer 1

-definition by scope
-defintion by function

Question 2

Explain how one can define regulation by function

Answer 2

-Market regulation can be def. in its cap. 4:
1.standard setting
-ability to create distinct. between m o l pre.
-states of the system
2.information gathering or monitoring
-prod. knowledge of current or changing state of market
3behaviour modification
-ab. to change the state of the system

Question 3

Explain what standard setting is

Answer 3

-establishing distinctions between the preferred and not preferred states of the system

Question 4

Explain what information gathering is

Answer 4

• producing knowledge about the current or changing states of the system

Question 5

Explain what behaviour modification is

Answer 5

changing the state of the system

Question 6

List an example of a ‘scandal’ which involved misinformation

Answer 6

-Volkswagen emission scandal

Question 7

Explain market regulation in terms of scope

Answer 7

-In the narrow sense
-intentional attempts
-by the state
-2 influence. soc. beha./attitudes in the marketplace
-collective concerns
-esta., monitoring, enforcing

-Broader sense
-ALL SOCIAL CONTROL
-int. or not
imposed BY THE STATE or other soc. inst.
-

Question 8

Explain the main considerations/ logic of market regulation

Answer 8

Three Principal Issues
1. goal or outcome to be achieved?
2. stan. of cond. from mark. participants?
3.enforce. tech. are appropriate to ensure comp?

Question 9

Explain the law’s role in market regulation through two different subcategories-

Answer 9

*Instrumental Role
* Instrument for infl. social behaviour to fac. challenges in the market

-Foundational role
* -lay down foundations for peaceful cooper. bet indi.
* -Through broader values: e.g: r.o.l
* -thus, check on inst. power (constraint)

Question 10

Explain the differences in pub. law and priv. law

Answer 10

-vertical vs. horizontal
-Distributive (soc.) justive vs. interpersonal (corrective) justice
-Pub. enforcement v. Priv. enforcement
-Ex ante vs. ex poste

Question 11

Explain the relationship between Constitutional and Administrative law through an example

Answer 11

Example: Climate Activists block main road into The Hague
–> Constitutional law sets the general framework for the rela. between state + citizen
–> protest/block demonstration–> right to demonstrate
–>Adminisis. law delineates how/ when. implemented
–> not allowed to block road