Stare decisis: Rhetoric and substance
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- dc.contributor.author Fernández, Patricio A.ca
- dc.contributor.author Ponzetto, Giacomo A. M.ca
- 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.date.modified 2017-07-23T02:15:10Z
- 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/pdfca
- 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.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.accessRights info:eu-repo/semantics/openAccess
- dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
- dc.subject.keyword Macroeconomics and International Economics
- dc.title Stare decisis: Rhetoric and substanceca
- dc.type info:eu-repo/semantics/workingPaper