is there a pithy law & economics term for “the law as various observers believe it to be” vs what it actually is in practice?
so law is what people believe but there’s no term for the distinction between that and “on the books” law?
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oooh you mean they put it in scare quotes?
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Well there are rule of law issues that stem from that distinction. But the point of the economic analysis done by Ellickson and others is that the distinction doesn't matter in many, if not most cases in which people have to decide how to behave or even how to resolve disputes.
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yeah that’s what prompted the question
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The scare quotes are there for you, not them.
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