dc.contributor.author |
Fernández, Patricio A. |
dc.contributor.author |
Ponzetto, Giacomo A. M. |
dc.contributor.other |
Universitat Pompeu Fabra. Departament d'Economia i Empresa |
dc.date.accessioned |
2017-07-26T10:51:03Z |
dc.date.available |
2017-07-26T10:51:03Z |
dc.date.issued |
2009-03-01 |
dc.identifier |
https://econ-papers.upf.edu/ca/paper.php?id=1361 |
dc.identifier.citation |
Journal of Law, Economics and Organization, 28 (2), 313-336, 2012 |
dc.identifier.uri |
http://hdl.handle.net/10230/20740 |
dc.description.abstract |
Stare decisis allows common law to develop gradually and incrementally. We show how
judge-made law can steadily evolve and tend to increase efficiency even in the absence of
new information. Judges' opinions must argue that their decisions are consistent with
precedent: this is the more costly, the greater the innovation they are introducing. As a
result, each judge effects a cautious marginal change in the law. Alternative models in
which precedents are either strictly obeyed or totally discarded would instead predict
abrupt large swings in legal rules. Thus we find that the evolution of case law is
grounded not in binary logic fixing judges' constraints, but in costly rhetoric shaping
their incentives. We apply this finding to an assessment of the role of analogical
reasoning in shaping the joint development of different areas of law. |
dc.format.mimetype |
application/pdf |
dc.language.iso |
eng |
dc.relation.ispartofseries |
Economics and Business Working Papers Series; 1361 |
dc.rights |
L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons |
dc.rights.uri |
http://creativecommons.org/licenses/by-nc-nd/3.0/es/ |
dc.title |
Stare decisis: Rhetoric and substance |
dc.type |
info:eu-repo/semantics/workingPaper |
dc.date.modified |
2017-07-23T02:15:10Z |
dc.subject.keyword |
Macroeconomics and International Economics |
dc.rights.accessRights |
info:eu-repo/semantics/openAccess |