Debt Information and Legal Institutions in Ancient Greece

Laurent Gauthier ()
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Laurent Gauthier: CAC-IXXI, Complex Systems Institute, ESPRI - Espace, Pratiques sociales et Images dans les mondes Grec et Romain - ArScAn - Archéologies et Sciences de l'Antiquité - UP1 - Université Paris 1 Panthéon-Sorbonne - UP8 - Université Paris 8 - UPN - Université Paris Nanterre - MCC - Ministère de la Culture et de la Communication - CNRS - Centre National de la Recherche Scientifique

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Abstract: We examine ancient Greek debt records from the standpoint of information economics. Using a new corpus of debt attestations from literary texts, inscriptions, and papyri, we track which elements of debt relations were provided: parties to the debt, principal, interest, timing, or enforcement, in particular. Missing information is typically due to voluntary non-recording, not to physical loss in the sources. We develop a public-notice model in which the party responsible for a claim may combine a public marker with a separate documentary channel. The marker gives notice of the asset's status, and the separate channel preserves contractual proof for restricted use. The amount of detail in the marker depends on the value of public precision, its relationship with separate proof, the cost of public writing, and the expected loss from legal challenge. Public markers record security or title more often than the other types of information. This pattern is clearest for horoi (boundary markers) and prasis epi lysei (sales with redemption). Public markers that mention deposited agreements preserve more contractual detail, which is consistent with complementarity between public detail and separate proof.

Date: 2026
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Published in European Journal of Law and Economics, inPress

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05804299

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