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Posiciones legales y complementariedades institucionales

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  • Ugo Pagano

    ()
    (Universidad de Siena)

Abstract

Legal positions (such as rights, duties, liberties, powers, liabilities and immunities) are linked together by strong institutional complementarities that differ from the usual institutional complementarities that have been recently considered in economic literature. Legal positions not only satisfy the usual conditions of institutional complementarity stemming from the fact that legal positions that “fit” together are marginally better than those that do not. They also define legal equilibria characterized by the social scarcity constraint that is typical of positional goods.

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File URL: http://www.uexternado.edu.co/facecono/ecoinstitucional/workingpapers/upagano9.pdf
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Bibliographic Info

Article provided by Universidad Externado de Colombia - Facultad de Economía in its journal Revista de Economía Institucional.

Volume (Year): 5 (2003)
Issue (Month): 9 (July-December)
Pages: 17-54

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Handle: RePEc:rei:ecoins:v:5:y:2003:i:9:p:17-54

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Related research

Keywords: legal positions; institutional complementarities; contracts; property law; industrial organization; capitalist systems;

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References

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  1. repec:fth:diecpo:233 is not listed on IDEAS
  2. Pagano, Ugo & Rowthorn, Robert, 1994. "Ownership, technology and institutional stability," Structural Change and Economic Dynamics, Elsevier, vol. 5(2), pages 221-242, December.
  3. Pagano, Ugo, 2000. "Public markets, private orderings and corporate governance," International Review of Law and Economics, Elsevier, vol. 20(4), pages 453-477, December.
  4. Ugo Pagano, 1999. "The Origin of Organizational Species," ESRC Centre for Business Research - Working Papers wp118, ESRC Centre for Business Research.
  5. Geoffrey M. Hodgson, 1998. "The Approach of Institutional Economics," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 166-192, March.
  6. Milgrom, Paul & Roberts, John, 1990. "Rationalizability, Learning, and Equilibrium in Games with Strategic Complementarities," Econometrica, Econometric Society, vol. 58(6), pages 1255-77, November.
  7. Pagano, U, 1983. "Profit Maximization, Industrial Democracy and the Allocation of Labour," The Manchester School of Economic & Social Studies, University of Manchester, vol. 51(2), pages 159-83, June.
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Cited by:
  1. Luca Fiorito, 2008. "John R. Commons, Wesley N. Hohfeld and the Origins of Transactional Economics," Department of Economics University of Siena 536, Department of Economics, University of Siena.

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