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.
Original language | English (US) |
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Article number | 26 |
Journal | Games |
Volume | 12 |
Issue number | 1 |
DOIs | |
State | Published - Mar 2021 |
Keywords
- Law
- Order
- Rationalizability
ASJC Scopus subject areas
- Statistics and Probability
- Statistics, Probability and Uncertainty
- Applied Mathematics