Regulating through litigation: possible advantages

Some specialized tribunals with jurisdiction over economic regulation are empowered to dictate general measures on economic sectors, thus regulating directly through rulings that usually originate in adversarial proceedings. This offers a chance to evaluate the convenience of using proceedings with the form of a trial for regulatory ends.
This paper explores the following possible procedural advantages of such a system: (i) affected parties could provide relevant arguments or data in support of their preferred policy and refute the positions of others in a public discussion; (ii) this process might prove to be more transparent and subject to stronger control from affected parties than when the administration regulates; and (iii) the rationale behind a chosen policy might also be better explained and justified in the ruling than it usually is when administrative agencies establish or modify economic regulations.