Performance-Based Regulation and Regulatory Regimes

This paper addresses the policy implications of performance-based approaches to regulation. Differences in the form of performance-based regulation arise in thinking about how to characterize performance outcomes, what constitutes desired achievements with respect to the outcomes, and how to measure the level of performance that is obtained. Regardless of the form that performance-based regulation takes, it cannot be considered as separate from the broader regulatory system. As such, implementing performance-based regulation is as much about changes in regulatory regimes as it is about introduction of performance-based standards.

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