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Posiciones legales y complementariedades institucionales

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Author Info
Ugo Pagano () (Universidad de Siena)

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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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Publisher 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;

Find related papers by JEL classification:
J41 - Labor and Demographic Economics - - Particular Labor Markets - - - Labor Contracts
J50 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - General
K11 - Law and Economics - - Basic Areas of Law - - - Property Law
K12 - Law and Economics - - Basic Areas of Law - - - Contract Law
K22 - Law and Economics - - Regulation and Business Law - - - Corporation and Securities Law
K31 - Law and Economics - - Other Substantive Areas of Law - - - Labor Law
L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
P10 - Economic Systems - - Capitalist Systems - - - General

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Geoffrey M. Hodgson, 1998. "The Approach of Institutional Economics," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 166-192, March. [Downloadable!] (restricted)
  2. Milgrom, Paul & Roberts, John, 1990. "Rationalizability, Learning, and Equilibrium in Games with Strategic Complementarities," Econometrica, Econometric Society, vol. 58(6), pages 1255-77, November. [Downloadable!] (restricted)
  3. Ugo Pagano, 2000. "Public Markets, Private Orderings and Corporate Governance," ESRC Centre for Business Research - Working Papers wp166, ESRC Centre for Business Research. [Downloadable!]
    Other versions:
  4. Pagano, U, 1983. "Profit Maximization, Industrial Democracy and the Allocation of Labour," The Manchester School of Economic & Social Studies, Blackwell Publishing, vol. 51(2), pages 159-83, June.
  5. repec:fth:diecpo:233 is not listed on IDEAS
  6. Pagano, Ugo & Rowthorn, Robert, 1994. "Ownership, technology and institutional stability," Structural Change and Economic Dynamics, Elsevier, vol. 5(2), pages 221-242, December. [Downloadable!] (restricted)
  7. Ugo Pagano, 1999. "The Origin of Organizational Species," ESRC Centre for Business Research - Working Papers wp118, ESRC Centre for Business Research. [Downloadable!]
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  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. [Downloadable!]
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This page was last updated on 2009-12-13.

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