suppose there is certain social norm its


Suppose there is certain social norm. Its enactment into statutory law lowers people's private cost of its enforcement because it creates the possibility that violation of norm will face civil punishment. People will start believing that other people will also enforce the norm and the expectation can be self-fulfilling. When extended we can expect policy prescriptions leading to better coordination between agents in the system.

Request for Solution File

Ask an Expert for Answer!!
Public Economics: suppose there is certain social norm its
Reference No:- TGS0353679

Expected delivery within 24 Hours