The (Non) economic properties of the law

Leo Katz*, Alvaro Sandroni

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review


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.

Original languageEnglish (US)
Article number26
Issue number1
StatePublished - Mar 2021


  • Law
  • Order
  • Rationalizability

ASJC Scopus subject areas

  • Statistics and Probability
  • Statistics, Probability and Uncertainty
  • Applied Mathematics


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