Anderlini, Luca, Felli, Leonardo, Immordino, Giovanni & Riboni, Alessandro.
Which legal institutions are best equipped to deal with the challenges of new technologies? The authors of CEPR DP8433 find a tradeoff between commitment and flexibility in the evolution of legal systems. Rigid legal systems, they argue, cope best with new technological developments because they help resolve credible commitment problems. At later stages of technological development, flexible systems improve welfare and increase innovation and output growth.
Πηγή: CEPR