May 27, 2022
Corruption strengths the idea that the authorisation of new products and production techniques is only allowed if there is conclusive evidence that the benefits emerging from the approval offset the negative externalities generated
New products or production techniques are often regulated as they may cause harm to consumers and the environment. An unresolved question concerns the authorization for their use or production in the absence of conclusive evidence about the magnitude of their side effects. Bureaucratic corruption may affect the outcome of the authorization process, further complicating the picture, concealing or downplaying valuable information to their superiors and the public in exchange for…
