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Positional goods and Robert Lee Hale's legal economics

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  • VATIERO, MASSIMILIANO

Abstract

The legal realist Robert Lee Hale offered a definition of freedom as a zero-sum game: each volitional freedom implies some degree of coercion over other people's freedom, and at the same time one's freedom is subject to some degree of control and coercion by others. The objective of our work is to develop this idea along with the theory of positional goods. This allows us to illustrate the externalities deriving from the ‘consumption’ of freedom and detail the role of the lawmaker in accordance with the Halean contribution.

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  • Vatiero, Massimiliano, 2013. "Positional goods and Robert Lee Hale's legal economics," Journal of Institutional Economics, Cambridge University Press, vol. 9(3), pages 351-362, September.
    • Handle: RePEc:cup:jinsec:v:9:y:2013:i:03:p:351-362_00
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    Cited by:

    1. Luca Fiorito & Massimiliano Vatiero, 2021. "Frank H. Knight on social values in economic consumption: an archival note," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 28(1), pages 126-141, January.
    2. Ugo Pagano & Massimiliano Vatiero, 2017. "Positional goods and legal orderings," Department of Economics University of Siena 773, Department of Economics, University of Siena.
    3. Pagano, Ugo & Vatiero, Massimiliano, 2015. "Costly institutions as substitutes: novelty and limits of the Coasian approach," Journal of Institutional Economics, Cambridge University Press, vol. 11(2), pages 265-281, June.
    4. Paolo Brunori, 2016. "Review of Joseph Fishkin 's Bottlenecks: A New Theory of Equal Opportunity," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 62(1), pages 198-205, March.

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