Re: [projectvrm] Rules with Discretion and Local Info

[Peter Herring < >]

I needed a quick brain break today, so I thought I would use this piece of abstruse erudition - clearly written in a west coast dialect of Embyase - to test the limits of google translator. Unfortunately, I had to conclude that google translator failed the test. I pasted in the copy below, then translated it to English; it came out exactly the same.

~Peter  ;)

On Mon, Sep 10, 2012 at 12:26 PM, J Clark < " target="_blank"> > wrote:

For those who like academic takes on social responsibility

Rules with Discretion and Local Information" 
Stanford Graduate School of Business Research Paper No. 2117

T. RENEE BOWEN, Stanford University - Graduate School of Business
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DAVID M. KREPS, Stanford Graduate School of Business
ANDRZEJ SKRZYPACZ, Stanford Graduate School of Business
Email:  " style="font-size:12px;font-weight:normal;color:rgb(0,51,102);text-decoration:none" target="_blank">

To ensure that individual actors take certain actions, community enforcement may be required. This can present a rules-versus-discretion dilemma: It can become impossible to employ discretion based on information that is not widely held, because the wider community is unable to tell whether the information was used correctly. Instead, actions may need to conform to simple and widely verifiable rules. We study when discretion in the form of permitted exceptions to the simple rule can be permitted, if the information is shared by the action taker and a second party, who is able to verify for the larger group that an exception is warranted. In particular, we compare protocols where the second party excuses the action taker from taking the action ex ante with protocols where the second party instead forgives a rule-breaking actor ex post, finding that the latter is, in general, useful in a wider variety of circumstances.

--
peter herring

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