National Development Plans and Market Process: A revision from Law & Economics, IA, and the Public Issues perspectives

Author:

Méndez Reátegui RubénORCID

Abstract

This journal article theoretically examines the thesis of whether a government organization envisaged to, directly and indirectly, regulate the “market process” manages to fulfill its “macro functions” from a “long-run performance” perspective. Also, the proposed exercise is characterized as a public issue and therefore, for its analysis, a hypothetical-deductive exercise and formulation of conjectures is proposed in the sense of Noveck —2022—. That is, in addition to the implementation of ideas from the economic psychology of Richard Thaler —1986—, an analysis matrix is created to explore whether the actions of an entity such as the Superintendence of Industry and Commerce of Colombia (SIC), randomly selected as an example, can contribute to the “market process” by automating the implementation of its strategic plan through the introduction and/or deepening of the use of artificial intelligence (AI) and other advanced analysis tools that add value.

Publisher

Editorial Pontificia Universidad Javeriana

Reference13 articles.

1. Alberto Ruiz Ojeda et al., Regulation and Competition in Services of General Economic Interest (SGEI) (Editorial Universidad de Málaga, 2015).

2. Beth Simone Noveck, How to solve public problems. A practical guide to fixing the government and changing the world (Galaxia Gutenberg, 2022).

3. Israel Kirzner, The meaning of market process, in Mario Rizzo, ed., Essays in the development of modern Austrian Economics (Routledge, 1992).

4. Juan Castellanos Díaz, Rubén Méndez Reátegui & María Camila Paladines, Study on the regulatory process of ultra-processed food labeling: Colombian case, 6(1) Revista Justicia & Derecho 1-9 (2023). https://revistas.uautonoma.cl/index.php/rjyd/article/view/2033

5. José Roldán Xopa & Drik Zavala, Virtual conference Behaving badly costs: behaving well costs. Behavioral sciences, economics, and law, Intel-Iuris Special Series: Frontier Issues in Administrative Law (2023).

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