Law without the State: Legal Attributes and the Coordination of Decentralized Collective Punishment
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"Law without the State: Legal Attrib..." refers background or methods in this paper
...A robust use of this mechanism, far from demonstrating the fragility of rules ðas Clay and Wright ½2005 suggest, pointing to significant levels of litigationÞ, may well serve the important function of reassuring everyone at the camp that residual uncertainties are resolved according to the common…...
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...Clay and Wright ð2005Þ make the case that the miners’ rules produced order but did not produce efficiency because they promoted a wasteful race for gold; a better regime might well have established exclusive rights that made claim jumping everywhere illegitimate....
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...…California beginning in 1848 at a time when California lacked a government capable of enforcing legal rules ðsee also McDowell 2002, 2004; Clay and Wright 2005Þ. McDowell ð2004Þ, for example, uses the economic theory of the spontaneous evolution of self-enforcing norms to minimize losses due…...
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...A final important feature of our approach missing from the pure coordination account concerns the interaction of ambiguity ðas Clay and Wright ½2005 emphasizeÞ and hence the need for an authoritative mechanism for resolving this problem....
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...Clay and Wright ð2005, 163Þ endorse McDowell’s view that miners chose rules that balanced the interests of claim holders and claim jumpers because of the inevitable “‘search’ and ‘race’ aspects of gold mining.”...
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