Abstract

http://ssrn.com/abstract=1884985
 


 



Law as a ByProduct: Theories of Private Law Production


Bruce H. Kobayashi


George Mason University - School of Law

Larry E. Ribstein (Deceased)


University of Illinois College of Law; PERC - Property and Environment Research Center

July 13, 2011

Illinois Program in Law, Behavior and Social Science Paper No. LBSS11-27

Abstract:     
Public lawmakers lack incentives to engage in a socially optimal amount of legal innovation. Private lawmaking is a potential solution to this problem. However, private lawmaking faces a dilemma: In order to be effective privately produced laws need to be publicly enacted, but under current law enactment eliminates the intellectual property rights that are essential to motivate private lawmakers. Because of this dilemma, much private lawmaking is done as a byproduct of other activities. The mixed incentives entailed in this "byproduct" approach make it a second-best response to the problems of public lawmaking. Potential solutions involve finding a better balance between public access and private rights.

Number of Pages in PDF File: 53

JEL Classification: K10, 11, 12, 22, 34, 41, L22

working papers series


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Date posted: July 15, 2011  

Suggested Citation

Kobayashi, Bruce H. and Ribstein (Deceased), Larry E., Law as a ByProduct: Theories of Private Law Production (July 13, 2011). Illinois Program in Law, Behavior and Social Science Paper No. LBSS11-27. Available at SSRN: http://ssrn.com/abstract=1884985 or http://dx.doi.org/10.2139/ssrn.1884985

Contact Information

Bruce H. Kobayashi
George Mason University - School of Law ( email )
3301 Fairfax Drive
Arlington, VA 22201
United States
703-993-8034 (Phone)
703-993-8088 (Fax)
HOME PAGE: http://mason.gmu.edu/~bkobayas
Larry Edward Ribstein (Deceased) (Contact Author)
University of Illinois College of Law ( email )
504 E. Pennsylvania Avenue
Champaign, IL 61820
United States
217-244-9881 (Phone)
217-244-1478 (Fax)
PERC - Property and Environment Research Center
2048 Analysis Drive
Suite A
Bozeman, MT 59718
United States

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