A Concept of Demand for Industry Self-Regulation
To develop a theoretical concept for answering the question of when self-regulation can reduce socially undesired practices of firms demands that one identifies the dynamics underlying the interaction of those who intend to self-regulate. This in turn requires having an understanding of what is meant by self-regulation and what motivates those who self-regulate to do so. While the first being a matter of defining the unit of analysis, the latter requires to derive from theoretical assumptions the cause for demand that can be attributed to firms.
KeywordsTransaction Cost Ethical Standard Adverse Selection Individual Firm Member Firm
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