Abstract

http://ssrn.com/abstract=1649630
 
 

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Some Notes on Property Rules, Liability Rules, and Criminal Law


Keith N. Hylton


William Fairfield Warren Distinguished Professor, Boston University; Professor of Law, Boston University School of Law

July 27, 2010

RESEARCH HANDBOOK ON THE ECONOMICS OF CRIMINAL LAW, A. Harel, K. Hylton, eds., Edward Elgar, 2011
Boston University School of Law, Law and Economics Research Paper Series, No. 10-21

Abstract:     
The property-liability rules framework, which offers a robust positive theory of criminal law, has come under attack in recent years. One critique, which I label the Indifference Proposition, argues that property rules and liability rules are equivalent in low transaction cost settings. In this paper I examine the conditions under which the Indifference Proposition is valid. In several plausible low transaction-cost settings the proposition is not valid.

Number of Pages in PDF File: 35

Keywords: property rules, liability rules, criminal law, transaction costs, bounded rationality, predation, defensive conduct

JEL Classification: K00, K11, K14, K39, K42

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Date posted: July 27, 2010 ; Last revised: July 9, 2011

Suggested Citation

Hylton, Keith N., Some Notes on Property Rules, Liability Rules, and Criminal Law (July 27, 2010). RESEARCH HANDBOOK ON THE ECONOMICS OF CRIMINAL LAW, A. Harel, K. Hylton, eds., Edward Elgar, 2011; Boston University School of Law, Law and Economics Research Paper Series, No. 10-21. Available at SSRN: http://ssrn.com/abstract=1649630

Contact Information

Keith N. Hylton (Contact Author)
William Fairfield Warren Distinguished Professor, Boston University ( email )
595 Commonwealth Avenue
Boston, MA 02215
United States
617-353-8959 (Phone)
Professor of Law, Boston University School of Law ( email )
765 Commonwealth Avenue
Boston, MA 02215
United States
617-353-8959 (Phone)
617-353-3077 (Fax)
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