Encyclopedia of Law and Economics

2019 Edition
| Editors: Alain Marciano, Giovanni Battista Ramello

Positional Goods and Legal Orderings

  • Ugo PaganoEmail author
  • Massimiliano Vatiero
Reference work entry
DOI: https://doi.org/10.1007/978-1-4614-7753-2_730

Abstract

People consume because others consume, maintained Veblen in 1899. More recently, theoretical, empirical, and experimental articles have argued that people constantly compare themselves to their environments and care greatly about their relative positions.

Given that competition for positions may produce social costs, we adopt a Law and Economics approach (i) to suggest legal remedies for positional competition and (ii) to argue that, because legal relations are characterized in turn by positional characteristics, such legal remedies do not represent “free lunches.

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© Springer Science+Business Media, LLC, part of Springer Nature 2019

Authors and Affiliations

  1. 1.University of SienaSienaItaly
  2. 2.Central European UniversityBudapestHungary
  3. 3.“Brenno Galli” Chair of Law and EconomicsInstitute of Law (IDUSI), Università della Svizzera italiana (USI)LuganoSwitzerland