Great post! With institutional design, would you have any advice on making it less abstract and increasing the value of such a proposal?
I cannot help but shrug off the feeling that just about anyone can whip up a structure/design which considers a couple of the stakeholders—what would a design which moves the needle have/be able to do?
Good question. The big barriers here are coming up with a design that is better than what would be implemented by default, and getting it adopted. This likely requires a ton of knowledge about existing frameworks like this (e.g., FDA drug approval, construction permitting, export licensing, etc.). Without this knowledge I expect what somebody whips up to be mostly useless. Without this knowledge, I don’t have particularly good ideas about how to improve on the default plan.
Sorry I don’t have more details for you, I think doing this job well is probably extremely hard. It’s like asking somebody to do better than the whole risk-assessment industry on this specific dimension. A lot of that industry doesn’t have strong incentives to improve these systems, so maybe this is an inadequacy that is relatively tractable, however.
Great post! With institutional design, would you have any advice on making it less abstract and increasing the value of such a proposal?
I cannot help but shrug off the feeling that just about anyone can whip up a structure/design which considers a couple of the stakeholders—what would a design which moves the needle have/be able to do?
Good question. The big barriers here are coming up with a design that is better than what would be implemented by default, and getting it adopted. This likely requires a ton of knowledge about existing frameworks like this (e.g., FDA drug approval, construction permitting, export licensing, etc.). Without this knowledge I expect what somebody whips up to be mostly useless. Without this knowledge, I don’t have particularly good ideas about how to improve on the default plan.
Sorry I don’t have more details for you, I think doing this job well is probably extremely hard. It’s like asking somebody to do better than the whole risk-assessment industry on this specific dimension. A lot of that industry doesn’t have strong incentives to improve these systems, so maybe this is an inadequacy that is relatively tractable, however.