kaal:claim:2267560-023

Unenforceable rules are irrelevant for purposes of economic analysis because they provide neither incentives nor sanctions, and legal rules without enforcement mechanisms do not qualify as institutions in the NIE framework.

Source quote, verbatim

Unenforceable rules are generally irrelevant for purposes of economic analysis because they do not provide incentives and sanctions.

From

Wulf A. Kaal, Evolution of Law Dynamic Regulation in a New Institutional Economics Framework (2013), III.1 Formal vs. Informal Rules, p. 8
https://ssrn.com/abstract=2267560 · source PDF

Cite as

Wulf A. Kaal, Evolution of Law Dynamic Regulation in a New Institutional Economics Framework (2013). SSRN: https://ssrn.com/abstract=2267560

Holds when

economic analysis within the NIE framework

Classification

definitionalsupport: arguedcomplianceinstitutional-designeconomics

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