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- Economic Theory of RegulationGeorge Stigler is best known for developing the Economic Theory of Regulation, also known as regulatory capture. This theory suggests that interest groups and political participants use government regulatory powers to shape laws and regulations in their favor12. Stigler argued that regulation is a product produced in a market, and it can be acquired by business firms to serve their private interests and create barriers to entry for competitors3.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Stigler is best known for developing the Economic Theory of Regulation (1971), also known as regulatory capture, which says that interest groups and other political participants will use the regulatory and coercive powers of government to shape laws and regulations in a way that is beneficial to them.en.wikipedia.org/wiki/George_StiglerIn 1971, he introduced the idea of regulatory capture, which says that regulators can be dominated by special interests and work for the benefit of large, monied organizations rather than the public good. Stigler’s work forced economists to consider regulation with empirical analysis, much as they studied other economic questions.www.chicagobooth.edu/faculty/nobel-laureates/geo…Stigler argued that regulation is a product that, just like any other product, is produced in a market, and that it can be acquired from the governmental “marketplace” by business firms to serve their private interests and create barriers to entry for potential competitors.papers.ssrn.com/sol3/papers.cfm?abstract_id=280…
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WEBBorn: 17 January 1911, Renton, WA, USA. Died: 1 December 1991, Chicago, IL, USA. Affiliation at the time of the award: University of Chicago, Chicago, IL, USA. Prize motivation: “for his seminal studies of industrial …
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