is there a pithy law & economics term for “the law as various observers believe it to be” vs what it actually is in practice?
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Replying to @literalbanana
The premise of your question is fatally flawed. See Robert Ellickson, Order without Law. The law *is* what it is believed to be.
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Replying to @riemannzeta
I’m asking about how the law & economics model treats this, is that what you’re answering?
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Replying to @literalbanana
What is on the books is not very often consulted.
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Replying to @riemannzeta
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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Replying to @literalbanana @riemannzeta
oooh you mean they put it in scare quotes?
5:14 PM - 17 Jun 2018
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