Toward a More General Theory of Regulation

@article{Peltzman1976TowardAM,
  title={Toward a More General Theory of Regulation},
  author={Sam Peltzman},
  journal={The Journal of Law and Economics},
  year={1976},
  volume={19},
  pages={211 - 240}
}
  • S. Peltzman
  • Published 1 April 1976
  • Economics
  • The Journal of Law and Economics
In previous literature, George Stigler asserts a law of diminishing returns to group size in politics: Beyond some point it becomes counterproductive to dilute the per capita transfer. Since the total transfer is endogenous, there is a corollary that dirninishing returns apply to the transfer as well, due both to the opposition provoked by the transfer and to the demand this opposition exerts on resources to quiet it. Stigler does not himself formalize this model, and my first task will be to… 

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