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Do U.S. Regulators Listen to the Public? Testing the Regulatory Process with the RegRank Algorithm

Published:22 June 2014Publication History

ABSTRACT

We propose a tool called RegRank that can be used to measure and test whether government regulatory agencies adjust aspects of final rules in response to comments received from the public. The algorithm, which combines customized dictionaries with LDA topic models, is used to analyze the text of public rulemaking documents of the Commodity Futures Trading Commission (CFTC) - a federal regulatory agency in charge of implementing parts of the Dodd-Frank Wall Street Reform and Consumer Protection Act. A key finding based on the available data is that the government adjusts its final rules in the direction of public comments.

References

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  2. U. Congress. 5 U.S.C. 553. http://www.archives.gov/federal-register/laws/administrative-procedure/553.html. Accessed: 2014-01-10.Google ScholarGoogle Scholar
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  1. Do U.S. Regulators Listen to the Public? Testing the Regulatory Process with the RegRank Algorithm

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    • Published in

      cover image ACM Conferences
      DSMM'14: Proceedings of the International Workshop on Data Science for Macro-Modeling
      June 2014
      75 pages
      ISBN:9781450330121
      DOI:10.1145/2630729

      Copyright © 2014 Owner/Author

      Permission to make digital or hard copies of part or all of this work for personal or classroom use is granted without fee provided that copies are not made or distributed for profit or commercial advantage and that copies bear this notice and the full citation on the first page. Copyrights for third-party components of this work must be honored. For all other uses, contact the Owner/Author.

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      Association for Computing Machinery

      New York, NY, United States

      Publication History

      • Published: 22 June 2014

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      Acceptance Rates

      DSMM'14 Paper Acceptance Rate9of17submissions,53%Overall Acceptance Rate32of64submissions,50%

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