By Fabrizio Cafaggi
The Siena summer time college has received a magnificent acceptance through the years and the books that have resulted from this enterprise are continuously good bought. This new booklet within the sequence is within the scorching sector of legislation and economics.
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42 This criticism is easy to address. Efficiency is certainly a valid legal norm, but there are others. There is not much to be gained from arguing about the rank ordering of these various legal norms. My intuition is that what norm receives primacy is a matter for case-by-case analysis and the exercise of judgment. There is no meta-rule to resolve this matter. One can say more about the seeming inattention by law and economics to distributive justice issues. 43 But it is perhaps not so well known outside of formal economic training that this lack of settled learning is not for want of trying.
416. Schimdt Reinhard and Spindler Gerald (2004), “Path dependence and complementarity in corporate governance,” in Gordon Jeffrey N. and Roe Mark J. ), Convergence and Persistence in Corporate Law, Cambridge University Press, Cambridge, pp. 114–128. Shavell, S. (2004), Foundations of Economic Analysis of Law, Harvard University Press. Sunstein, Cass, R. ) (2000), Behavioral Law and Economics, Cambridge University Press, Cambridge. M. (1998), Supermodularity and Complementarity, Princeton University Press, Princeton, NJ.
Depending on their tastes and preferences and on their probability estimates, rational decision-makers will substitute away from the possibility of a fatal infectious disease, just as they avoid other risky situations. 31 The future of law and economics 27 The policy question is whether or not rational people will take too little precaution against the disease and might, thereby, impose uncompensated costs on others. That is, are there negative externalities from individual decisions about unsafe sex?