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The Economics of Necessity

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  • Keith N. Hylton

Abstract

The necessity doctrine aligns the private incentive and the social incentive for a property possessor to take a defensive action that prevents an invasion of his or her property from occurring. The model described here is also applicable to self-help in contracts.

Suggested Citation

  • Keith N. Hylton, 2012. "The Economics of Necessity," The Journal of Legal Studies, University of Chicago Press, vol. 41(2), pages 269-289.
    • Handle: RePEc:ucp:jlstud:doi:10.1086/665698
    DOI: 10.1086/665698
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    References listed on IDEAS

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    1. Omri Ben-Shahar & Eric A. Posner, 2011. "The Right to Withdraw in Contract Law," The Journal of Legal Studies, University of Chicago Press, vol. 40(1), pages 115-148.
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