This research addresses the policy implications of performance-based approaches to regulation. Differences in the form of performance-based regulation arise in thinking about how to characterize performance outcomes, what constitutes desired achievements, and how to measure the level of performance that is obtained. Implementing performance-based regulation is as much about changes in regulatory regimes as it is about introduction of performance-based standards.
Four sets of experiences with performance-based regulatory regimes are examined: (1) the “leaky building crisis” in New...