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Paying a Price, Facing a Fine, Counting the Cost: The Differences that Make the Difference
Author(s) -
Migotti Mark
Publication year - 2015
Publication title -
ratio juris
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.344
H-Index - 10
eISSN - 1467-9337
pISSN - 0952-1917
DOI - 10.1111/raju.12088
Subject(s) - argument (complex analysis) , section (typography) , set (abstract data type) , function (biology) , mathematical economics , economics , microeconomics , computer science , business , advertising , biochemistry , chemistry , evolutionary biology , biology , programming language
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.