https://www.taxtmi.com/news?id=23599 Call for simplification of regulatory processes to address administrative inefficiency and opaque discretion arising from overregulation. Using the incomplete contracts framework, the Survey explains that bounded rationality and verification limits make complete regulation impossible; increasing regulatory complexity reduces verifiability and fosters opaque discretion. The prescribed solution is simple regulations combined with strengthened supervision, improved transparency, robust ex ante accountability, and ex post resolution mechanisms to balance retained discretion and improve administrative outcomes. en-us Fri, 29 Jan 2021 16:33:33 +0530 Fri, 29 Jan 2021 16:33:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=23599 Call for simplification of regulatory processes to address administrative inefficiency and opaque discretion arising from overregulation. Using the incomplete contracts framework, the Survey explains that bounded rationality and verification limits make complete regulation impossible; increasing regulatory complexity reduces verifiability and fosters opaque discretion. The prescribed solution is simple regulations combined with strengthened supervision, improved transparency, robust ex ante accountability, and ex post resolution mechanisms to balance retained discretion and improve administrative outcomes. News - Fri, 29 Jan 2021 16:33:33 +0530 https://www.taxtmi.com/news?id=23599