Optimal Discretion in the Application of Rules

@inproceedings{Shavell2005OptimalDI,
  title={Optimal Discretion in the Application of Rules},
  author={Steven Shavell},
  year={2005}
}
Discretion is examined as a feature of the design of rule-guided systems. That is, given that rules have to be administered by some group of persons, called adjudicators, and given that their goals may be different from society’s (or a relevant organization’s), when is it socially desirable to allocate discretionary authority to the adjudicators and, if so, to what extent? The answer reflects a tradeoff between the informational advantage of discretion -that adjudicators can act on information… CONTINUE READING
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