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This paper reports a rigorous experimental test of Pareto-damaging behaviors. We introduce a new graphical representation of dictator games with step-shaped sets of feasible payoffs to persons self and other on which strongly Pareto efficient allocations involve substantial inequality. The...
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Contract theorists approach value pluralism in three ways: (a) Capitulation: the theorist shows how a single value – e.g., efficiency or community – explains a rule or an area and implies normative recommendations; (b) Leveraging: the theorist shows how multiple values that theorists find...
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Private law theory must confront the plurality of values that inform the problems that private law addresses in practice. We consider Hanoch Dagan's and Michael Heller's The Choice Theory of Contracts as a case-study in the promise and perils that embracing plural values poses for private law...
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Traditional justifications for civil disobedience emphasize the limits of even democratic political authority and defend civil disobedience as a just response when governments overstep these limits. Such liberal justifications are well suited to disobedience in protest of laws or policies that...
Persistent link: https://www.econbiz.de/10014066246
Much contemporary discussion of “the market” assumes that markets have a true nature or immanent logic. In fact, however, markets arise and operate through law, so that no particular market structure is inevitable and every market order is the result of a complex set of legal and political...
Persistent link: https://www.econbiz.de/10012844441
Behavioral economics—arising from the insight that people make recognizable, systematic mistakes—has revolutionized policymaking. For example, in governments around the world, including the US, teams of experts have recently arisen to harness these insights, promising to do things like...
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