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Posiciones legales y complementariedades institucionales

  • Ugo Pagano


    (Universidad de Siena)

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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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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  1. Geoffrey M. Hodgson, 1998. "The Approach of Institutional Economics," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 166-192, March.
  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.
  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. 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.
  5. Ugo Pagano, 1999. "The Origin of Organizational Species," ESRC Centre for Business Research - Working Papers wp118, ESRC Centre for Business Research.
  6. Pagano, Ugo & Rowthorn, Robert, 1994. "Ownership, technology and institutional stability," Structural Change and Economic Dynamics, Elsevier, vol. 5(2), pages 221-242, December.
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