Abstract:
In this paper I show that penalties are not prices, and explain why the difference matters. In section one, I set up the problem which the following two sections will solve: namely, that it is easy enough to make certain kinds of penalties look just like prices. In section two, I lay out and dismantle an argument for reducing the former to the latter; and in section three I dismantle an argument for taking penalties and prices to be pragmatically equivalent, on the grounds that the essential function of both is to attach costs to actions.
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Mark Migotti, Paying a Price, Facing a Fine, Counting the Cost: The Differences that Make the Difference. Ratio Juris, volume 28, issue 3, pages 372–391, September 2015.
First posted 2015-08-14 08:31:01
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