Construct · 1 fields · 1 citations

nirvana fallacy: a standalone construct

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Law and economics

the error of comparing a real institutional arrangement with an ideal one, rather than with other real arrangements.

In law and economics, nirvana fallacy refers to the error of comparing a real institutional arrangement with an ideal one, rather than with other real arrangements. This meaning comes from Demsetz (1969) in The Journal of Law and Economics.[1]

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Nearby constructs

arrangement3 fields · 6 citationsjingle · one word, three constructs error4 fields · 8 citationsjingle · one word, four constructs fallacy1 fields · 1 citationsanchor · a standalone construct

References

Demsetz, H. (1969). Information and Efficiency: Another Viewpoint. The Journal of Law and Economics, 12(1), 1-22. https://doi.org/10.1086/466657

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