<Outline>
From ridesharing and peer-to-peer lending to cryptocurrencies, gene editing, autonomous vehicles, and generative AI, nascent markets are often characterized by innovations that consistently outpace formal regulatory frameworks. While the non-market strategy literature has provided important insights into how established firms can best engage with established regulators/regulations, much less is known about new market creators seeking regulatory legitimacy in the face of inapplicable or even non-existent regulations. We elaborate a theoretical framework to identify, compare, and contrast two regulatory engagement options for new market creators in this "zone of discretion:" namely, a "push strategy" (i.e., a more direct engagement with regulators) versus a "pull strategy" (i.e., a more indirect engagement with regulators via customer advocates). We discuss the relative merits and trade-offs involved with these two approaches, with particular attention given to highlighting the relevance of alternative (i.e., positive, null, and negative) interdependencies between the two options. We then introduce the notion of regulatory engagement dynamics, extending our model to address when and why one would expect new market creators to vary their regulatory push versus pull strategies over time.

<Moderator>
Michiko Iizuka, Professor, National Graduate Institute for Policy Studies (GRIPS)

<Notifications>
This is an in person and online seminar.
The number of seats onsite is limited to 20 (First-come, first served basis). In the case of over-capacity, we may ask you to participate online.
Zoom link will be sent by the day before the seminar via e-mail.

<Registration>
Please register at this registration form (https://forms.gle/bc3cJhgSt3nFRUX69) by 17:00, July 8 Tues. If you cannot open the form, please send email to GIST Secretariat, gist-ml@grips.ac.jp. Registration email must include: 1) your name, 2) institution, 3) position, and 4) e-mail address.