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Published in:
2008 | OriginalPaper | Chapter
Challenging Contemporary Trends in the (DE-) Regulation of the Professions
Author : Prof. Dr. Wolfgang Weigel
Published in: Internationalisierung des Rechts und seine ökonomische Analyse
Publisher: Gabler
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This paper contains the warning that the intended deregulation of the professions, which is vigorously pursued by the European Union, might go too far given the nature of many services at stake. Building upon an objective function which focuses on the minimization of social cost of regulation it is argued that advocates of deregulation do not take sufficient account of the ‘credence good’ problem contained in the said services. Being written to honor Hans-Bernd Schäfer, this paper hopefully resumes a particular virtue of the work of Professor Schäfer, which is the combination of high standard analysis with an orientation toward application.