Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/156376
Authors: 
Schlicht, Ekkehart
Year of Publication: 
2016
Series/Report no.: 
Munich Discussion Paper 2016-20
Abstract: 
Market interactions are brought about by the interplay of entitlements and obligations. Entitlements are rights, as perceived by the individuals. They are subjectively perceived rights that go along with a motivational disposition to defend them. Obligations are the counterparts of entitlements. They refer to claims of others that are subjectively accepted, and go along with a motivational disposition to respect these claims. Very simple transactions must rely on a system of entitlements and obligations. Simple selfishness would not be sufficient to bring them about or sustain them. This is especially true for nonenforceable contracts. The relationship of entitlements and obligations to norms is also discussed.
Subjects: 
entitlements
obligations
contracting
norms
behavioral economics
self-enforcing contracts non-enforcable contracts
norms
moralistic aggression
JEL: 
A12
D01
D03
D86
K11
K12
L14
P14
P48
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

Files in This Item:
File
Size
405.39 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.