Norms in Law and Economics

49 Pages Posted: 24 Aug 2004

See all articles by Richard H. McAdams

Richard H. McAdams

University of Chicago Law School

Eric Bennett Rasmusen

Indiana University - Kelley School of Business - Department of Business Economics & Public Policy

Date Written: July 7, 2004

Abstract

Everyone realizes the importance of social norms as guides to behavior and substitutes or complements for law. Coming up with a paradigm for analyzing norms, however, has been surprisingly difficult, as has systematic empirical study. In this chapter of the Handbook of Law and Economics, edited by A. Mitchell Polinsky and Steven Shavell and forthcoming in 2005, we survey the topic.

Keywords: Norms, behavior, conventions, law

JEL Classification: A13, D70, K00

Suggested Citation

McAdams, Richard H. and Rasmusen, Eric Bennett, Norms in Law and Economics (July 7, 2004). Available at SSRN: https://ssrn.com/abstract=580843 or http://dx.doi.org/10.2139/ssrn.580843

Richard H. McAdams

University of Chicago Law School ( email )

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Eric Bennett Rasmusen (Contact Author)

Indiana University - Kelley School of Business - Department of Business Economics & Public Policy ( email )

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