Simple Rules for a Complex World: Is It So?
Epstein gave to one of his books a title that summarizes the main conclusion of some studies, in particular Hayek's, of emergent orders (also known as spontaneous orders) such as the law and the market: we need, says Epstein, simple rules to cope with a complex world. We offer a critical appraisal of that statement looking in particular to his analysis of liability rule and argue that a rule of negligence, albeit more complex than strict liability, fits better the dynamics of a complex order. We conclude that the nature of the process through which the rule emerges is more important than its simplicity. We close the paper with some general reflections on the challenges presented by new researches in adaptive complex orders.
|Date of creation:||Apr 2011|
|Contact details of provider:|| Postal: Clos Guiot Puyricard - CS 30063, 13089 Aix en Provence Cedex 2|
Phone: 04 42 28 12 08
Fax: +33 (0)4 42 28 08 00
Web page: http://www.univ-cae.org
More information through EDIRC
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.:
- Garello, Pierre, 2002. "The breach of contract in French law: between safety of expectations and efficiency," International Review of Law and Economics, Elsevier, vol. 22(4), pages 407-420, December.
- Boettke, Peter, 2010. "The two social philosophies of Ostroms' institutionalism," MPRA Paper 33425, University Library of Munich, Germany.
- David Colander, 2009.
"Complexity and the History of Economic Thought,"
Chapters,in: Handbook of Research on Complexity, chapter 16
Edward Elgar Publishing.
- David Colander, 2008. "Complexity and the History of Economic Though," Middlebury College Working Paper Series 0804, Middlebury College, Department of Economics.
- Elinor Ostrom, 2014. "A Polycentric Approach For Coping With Climate Change," Annals of Economics and Finance, Society for AEF, vol. 15(1), pages 71-108, May.
- Elinor Ostrom, 2008. "A Polycentric Approach For Coping With Climate Change," CEMA Working Papers 578, China Economics and Management Academy, Central University of Finance and Economics.
- Ostrom, Elinor, 2009. "A polycentric approach for coping with climate change," Policy Research Working Paper Series 5095, The World Bank.
- Elinor Ostrom, 2010. "Beyond Markets and States: Polycentric Governance of Complex Economic Systems," American Economic Review, American Economic Association, vol. 100(3), pages 641-672, June.
- Ostrom, Elinor, 2009. "Beyond Markets and States: Polycentric Governance of Complex Economic Systems," Nobel Prize in Economics documents 2009-4, Nobel Prize Committee.
When requesting a correction, please mention this item's handle: RePEc:cgm:wpaper:89. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Mathieu Bédard)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.