Geoffrey Brennan, Werner Güth, Hartmut Kliemt

Trust in the Shadow of the Courts

Jahrgang 159 () / Heft 1, S. 16-36 (21)

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Even if contract enforcers are as opportunistic as ordinary traders, a system of adjudication can increase the degree to which contractual obligations on large anonymous markets are fulfilled. Only if arbitrators receive a fixed income, occasional mistakes will not favour the untrustworthy. It can be shown that the presence of the courts may further the prospects of the trustworthy in a large class of situations. But under non-optimal court policies and unfavorable parameter constellations introducing courts may crowd out trustworthiness.

Criminal Law and Conflicts of Honour

Geoffrey Brennan Keine aktuellen Daten verfügbar.

Werner Güth ist emeritierter Direktor am Max-Planck-Institut für Erforschung von Kollektivgütern in Bonn.

Hartmut Kliemt Professor für praktische Philosophie an der Universität Duisburg-Essen.

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Criminal Law and Conflicts of Honour