Why stare decisis?
| Autor: | Luca Anderlini, Leonardo Felli, Alessandro Riboni |
|---|---|
| Přispěvatelé: | Anderlini, L., Felli, L., Riboni, A., Felli, Leonardo [0000-0001-6113-6014], Apollo - University of Cambridge Repository |
| Rok vydání: | 2014 |
| Předmět: |
Economics and Econometrics
Dynamics of precedents Case Law jel:D74 media_common.quotation_subject Common law Stare decisis jel:C79 jel:D89 Time-inconsistency Temptation jel:K40 Case Law Dynamics of precedents Stare Decisis Time-inconsistency jel:L14 Economics Dynamic inconsistency Precedents Stare Decisis Time-Inconsistency Beneficial effects Law and economics media_common |
| Zdroj: | Review of Economic Dynamics. 17:726-738 |
| ISSN: | 1094-2025 |
| DOI: | 10.1016/j.red.2014.02.001 |
| Popis: | © 2014 Elsevier Inc. All Courts rule ex-post, after most economic decisions are sunk. This can generate a time-inconsistency problem. From an ex-ante perspective, Courts will have the ex-post temptation to be excessively lenient. This observation is at the root of the rule of precedent, known as stare decisis.Stare decisis forces Courts to weigh the benefits of leniency towards the current parties against the beneficial effects that tougher decisions have on future ones.We study these dynamics and find that stare decisis guarantees that precedents evolve towards ex-ante efficient decisions, thus alleviating the Courts' time-inconsistency problem. However, the dynamics do not converge to full efficiency. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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