The (Non) Economic Properties of Law

Authors

Leo Katz, University of Pennsylvania Carey Law SchoolFollow
Alvaro Sandroni, Northwestern University

Document Type

Article

Publication Date

3-16-2021

Abstract

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.

Keywords

law, order, rationalization

Publication Title

Games

Repository Citation

Games (2021)