There were several reasons why the Roman Empire lacked a formal system of succession. One reason was that the Roman Republic, which preceded the empire, had been founded on the principle of republican government, in which power was shared among a group of elected officials. This made it difficult to transfer power smoothly from one leader to another. Another reason was that the Roman Empire was a vast and diverse territory, and it was difficult to find a single individual who could command the loyalty of all the different regions and factions within the empire.
The lack of a formal system of succession was a major factor in the decline of the Roman Empire. It led to a series of weak and ineffectual emperors, and made it difficult for the empire to respond effectively to the challenges it faced.