Applying Hohfeld to economics

.

Chapter 3 in The Legal Foundations of Micro-Institutional Performance, 2022, pp 60-85 from Edward Elgar Publishing

Abstract: Building on the initial Hohfeldian approach in Chapter 2, we introduce some advanced concepts to complete the overall framework. The basic Hohfeld concepts can be combined into compound concepts such as protected privilege and common liberty amongst others. These advanced concepts better describe the real legal foundations of the economy and the types of opportunity sets facing economic agents. Further, basic Hohfeldian concepts can be further delineated with ideas such as veto power or initiation choice which allow the analyst to better discern the nature of transaction or interdependence between agents. Agents are not equal ultimately and agents will use inequality in power to coerce other agents and reduce each other's opportunity sets. The final section brings together the concepts into a full Hohfeldian framework which in turn becomes the Legal-Economic Performance framework of Chapter 4.

Keywords: Development Studies; Economics and Finance; Environment; Law - Academic (search for similar items in EconPapers)
Date: 2022
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.elgaronline.com/view/9781802204322.00012.xml (application/pdf)
Our link check indicates that this URL is bad, the error code is: 503 Service Temporarily Unavailable

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:21138_3

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Darrel McCalla ().