The assignment of rights under economic or legal uncertainty

Richard Zerbe

MPRA Paper from University Library of Munich, Germany

Abstract: Abstract This paper explores the relationship between law and applied welfare economics, BCA, and indicates how they are mutually enhancing. A definition of underlying principles for benefit cost analysis is given, from which rules for its application are derived. These rules are useful in considering arguments and outcomes in legal cases and for legal reasoning. I invoke norms, reference points, and legal right uncertainty, along with the role of sentiments and compensation for losses. In doing this the foundations of BCA are explicated and the interrelationship between law and applied welfare economics is made clearer.

Keywords: rights; uncertainty; Posner (search for similar items in EconPapers)
JEL-codes: K0 K1 K10 (search for similar items in EconPapers)
Date: 2023-04, Revised 2024-06
New Economics Papers: this item is included in nep-law
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:121295

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