Originalsprog | Engelsk |
---|---|
Titel | Encyclopedia of Law and Economics |
Redaktører | Alain Marciano, Giovanni Battista Ramello |
Antal sider | 5 |
Udgivelsessted | New York |
Forlag | Springer Science+Business Media |
Publikationsdato | 7 apr. 2016 |
ISBN (Trykt) | 9781461478836 , 9781461477525 |
ISBN (Elektronisk) | 9781461477549 |
DOI | |
Status | Udgivet - 7 apr. 2016 |
Abstrakt
This article shows how game theory can be applied to model good faith mathematically using an example of a classic legal dispute related to rei vindicato. The issue is whether an owner has a legal right to his good if a person has bought it in good faith by using updated probabilities. The article illustrates that a rule of where good faith is irrelevant Pareto dominates a rule where good faith may protect an innocent buyer.