Law, Coercion and Socioeconomic Equilibrium

Law : Framing or Equilibrium Selection ?

Besides creating fear of sanctions, laws sometimes express collective commitments, which can affect people’s behavior in at least two ways. First, a law can "frame" an act as wrong, so people avoid doing it for its own sake. Second, a law can help people coordinate their behavior by changing expectations. We hypothesize that normative systems have multiple equilibria and announcing a new law ca...

Local equilibrium hypothesis and Taylor’s dissipation law

To qualitatively investigate the validity of Kolmogorov local equilibrium hypothesis and the Taylor dissipation law, we conduct direct numerical simulations of the three-dimensional turbulent Kolmogorov flow. Since strong scale-by-scale (i.e. Richardson-type) energy cascade events occur quasi-periodically, the kinetic energy of the turbulence and its dissipation rate evolve quasi-periodically t...

Law without Coercion: Examining the Role of Law in Coordinating Collective Punishment

AGeneral Equilibrium Analysis of Personal Bankruptcy Law

We analyse an economy where principals and agents match and contract subject to moral hazard. Bankruptcy law defines the limited liability constraint in these contracts. We analyse Walrasian allocations to generate the following predictions: (i) weakening bankruptcy law causes redistribution of debt and welfare from poor agents and principals to rich agents; (ii) exemption limits Pareto-dominat...

Considerations on the genetic equilibrium law

In the first part of the paper I will present a brief review on the Hardy–Weinberg equilibrium and it’s formulation in projective algebraic geometry. In the second and last part I will discuss examples and generalizations on the topic.