If you experience any technical difficulties with this video or would like to make an accessibility-related request, please send a message to [email protected]. Traditionally the problem of regulation has been an information asymmetry: Firms know more about the risks they generate and the costs of mitigating them than do regulators, and they have incentives to make strategic use of their superior information to frustrate costly supervision. The task of the regulator is to elicit from firms the information necessary to establish public regarding—but economically feasible—standards and rules, but not at the price of “capture” or ceding control of regulation to its addressee. Under uncertainty, however, neither the regulator nor the regulated firms know what needs to be done. In this presentation, Charles Sabel looked closely at developments in the Norwegian offshore oil and gas industry and its regulator, the Petroleum Safety Authority (PSA) to better understand the co-evolution of vertically disintegrated, industry and new forms of regulation based on incident reporting.