The efficacy of various political institutions is the subject of intense
debate between proponents of broad legislative standards enforced
through litigation and those who prefer regulation by administrative
agencies. This book explores the trade-offs between litigation and
regulation, the circumstances in which one approach may outperform the
other, and the principles that affect the choice between addressing
particular economic activities with one system or the other. Combining
theoretical analysis with empirical investigation in a range of
industries, including public health, financial markets, medical care,
and workplace safety, Regulation versus Litigation sheds light on the
costs and benefits of two important instruments of economic policy.