“…Options to reduce the delta: changes in the institutional arrangements (responsive regulation) 7. Again: Address remaining delta (compare step 3, step 4, and step 6) Source: Based on Bizer and Gubaydullina (2007) and Bizer and Führ (2014) this, one can assume that individuals choose behavior in order to maximize utility according to their personal preferences. As means are limited, individuals will try to make the most possible out of it in terms of their preferences.…”