Opting out of the legal system¶
Bernstein, L. (1992). Opting out of the legal system: Extralegal contractual relations in the diamond industry. The Journal of Legal Studies, 21(1), 115-157.
Cited by¶
1 citation across 1 artifact.
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Primes¶
- Informal Enforcement
- Economics: Contracts honored among traders through reputation and the threat of lost future dealings, absent or alongside enforceable courts — the private-ordering and relational-contracting literatures on how exchange proceeds when the legal apparatus is unavailable, untrusted, or too slow to matter.
This sourceClassic private-ordering study of how diamond traders enforce contracts through reputation and the threat of lost future dealings rather than courts; supports the relational-contracting and knowledge-transfer (diamond-trade-to-marketplace) claims.
- Economics: Contracts honored among traders through reputation and the threat of lost future dealings, absent or alongside enforceable courts — the private-ordering and relational-contracting literatures on how exchange proceeds when the legal apparatus is unavailable, untrusted, or too slow to matter.
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Registry ID ref:a5f4181041f0 · see in the full table