Stare Decisis in the Common-Law System Plays the Same Role

question 96

True/False

Stare decisis in the common-law system plays the same role as the code in the French system, lending predictability to the law.

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Definitions:

Invisible Hand

The tendency of competition to cause individuals and firms to unintentionally but quite effectively promote the interests of society even when each individual or firm is only attempting to pursue its own interests.

Ultimatum Game

A game in experimental economics where a proposer offers how to split a sum of money with a responder, who can accept or reject the offer.

Dictator Game

A behavioral economics experiment that tests how individuals behave when they hold all the power over allocating resources.

Ultimatum Game

A game in economic experiments where one player proposes a division of resources, and the other can accept or reject it.