Document Type

Book Chapter

Publication Date

1-1-2012

Editor(s)

Alon Harel; Keith N. Hylton

ISSN

9781781953099 1781953090

Publisher

Edward Elgar

Language

en-US

Abstract

The property-liability rules framework, which offers a robust positive theory of criminal law, has come under attack in recent years. One critique, which I label the Indifference Proposition, argues that property rules and liability rules are equivalent in low transaction cost settings. In this paper I examine the conditions under which the Indifference Proposition is valid. In several plausible low transaction-cost settings the proposition is not valid.

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