The (non) economic properties of the law

This paper shows that the logical properties of constraints imposed by law are fundamentally different from other constraints considered in economics such as budget constraints and bounded rationality constraints, such as the ones based on inattention or shortlisting. This suggests that to fully incorporate law into economics may require a revision of economic theory.

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Year of publication:	2021
Authors:	Katz, Leo ; Sandroni, Alvaro
Published in:	Games. - Basel : MDPI, ISSN 2073-4336. - Vol. 12.2021, 1, p. 1-8
Publisher:	Basel : MDPI
Subject:	law \| order \| rationalizability

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Type of publication:	Article
Type of publication (narrower categories):	Article
Language:	English
Other identifiers:	10.3390/g12010026 [DOI] 175317063X [GVK] hdl:10419/257508 [Handle]
Source:	EconStor

Persistent link: https://www.econbiz.de/10013200088