The Attenuation of Legal Change


This chapter contributes to the literature on legal transition by offering a perspective on the “attenuation policy.” The attenuation policy invites the lawmaker to adjust its decisions to the contingent status of the parties, which might be favorable (high benefits/low costs) or unfavorable (small benefits/high costs). The attenuation policy provides parties with insurance, with a negligible impact on efficiency. The chapter puts the attenuation policy in perspective and compares it to other transition tools.