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Economic Morality and Jewish Law$
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Aaron Levine

Print publication date: 2012

Print ISBN-13: 9780199826865

Published to Oxford Scholarship Online: April 2015

DOI: 10.1093/acprof:osobl/9780199826865.001.0001

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The Sale of the Birthright and the Bilateral Monopoly Model

The Sale of the Birthright and the Bilateral Monopoly Model

(p.51) Chapter 2 The Sale of the Birthright and the Bilateral Monopoly Model
Economic Morality and Jewish Law

Aaron Levine

Oxford University Press

This chapter discusses the economic perspective of a birth right sale between Jacob and Esau using the bilateral monopoly model, explaining that the outcome of the sale will depend on the relative leverage each party perceives he has over the other. It also presents the application of the bilateral monopoly model in Jewish law that highlights the issues of fairness of price, the ethics of engaging in strategic behavior, and the option of whether to seize or not an opportunity.

Keywords:   birthright sale, bilateral monopoly model, Jewish law, law of ona'ah, Esau, Jacob, emet

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