Positional Goods and Robert Lee Hale's Legal Economics
Vatiero M. (2013), “Positional goods and Robert Lee Hale’s legal economics,” Journal of Institutional Economics, 9(3):351-362.
20 Pages Posted: 25 Jul 2014 Last revised: 19 Aug 2016
Date Written: December 1, 2011
The legal realist Robert Lee Hale offered a definition of freedom as a zero-sum game: each volitional freedom implies some degree of coercion over other people’s freedom and at the same time one’s liberty is subject to some degree of control and coercion by others. The objective of our work is to develop such an intuition along with the theory on positional goods. This allows us to illustrate the externalities deriving from the “consumption” of freedom and detail the role of the law-maker in accordance with the Halean contribution.
Keywords: Coercion, Freedom, Positional Good, Robert Lee Hale.
JEL Classification: B25, D62, K10, K12
Suggested Citation: Suggested Citation