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Behavioural Analysis and Regulatory Impact Assessment

Drummond, James R; Radaelli, Claudio M; (2024) Behavioural Analysis and Regulatory Impact Assessment. European Journal of Risk Regulation 10.1017/err.2024.1. (In press). Green open access

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Abstract

Regulatory impact assessment (RIA) is an appraisal tool to bring evidence to bear on regulatory decisions. A key property of RIA is that is corrects errors in reasoning by pushing regulators towards deliberative thinking to override intuitive judgments. However, the steps for regulatory analysis suggested by international organisations and governmental handbooks do not handle two sources of bias and barriers that are well documented in the literature on behavioural insights. First, bias enters the process via knowledge production during the analytical process of assessment. Second, bias affects knowledge utilisation when regulators “read” or utilise the results of RIA. We explore these two pathways by focusing on drivers of behaviour rather than lists of biases. The conclusions reflect on the limitations of current practice and its possible improvement, making suggestions for an RIA architecture that is fully informed by behavioural analysis.

Type: Article
Title: Behavioural Analysis and Regulatory Impact Assessment
Open access status: An open access version is available from UCL Discovery
DOI: 10.1017/err.2024.1
Publisher version: http://dx.doi.org/10.1017/err.2024.1
Language: English
Additional information: This work is licensed under a Creative Commons Attribution 4.0 International License. The images or other third-party material in this article are included in the Creative Commons license, unless indicated otherwise in the credit line; if the material is not included under the Creative Commons license, users will need to obtain permission from the license holder to reproduce the material. To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/
Keywords: Behaviour, knowledge utilisation, regulation, regulatory impact analysis (RIA)
UCL classification: UCL
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Political Science
URI: https://discovery.ucl.ac.uk/id/eprint/10190239
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