Foundations of Economic Analysis of Law

Author: Steven Shavell
Publisher: Harvard University Press
ISBN: 0674043499
Format: PDF
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In this book Steven Shavell provides an in-depth analysis and synthesis of the economic approach to the building blocks of our legal system, namely, property law, tort law, contract law, and criminal law. He also examines the litigation process as well as welfare economics and morality. Aimed at a broad audience, this book requires neither a legal background nor technical economics or mathematics to understand it. Because of its breadth, analytical clarity, and general accessibility, it is likely to serve as a definitive work in the economic analysis of law.

Economic Analysis of Law

Author: Steven Shavell
Publisher:
ISBN: 9781587788154
Format: PDF
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This introduction to the new field of economic analysis of the law focuses on the core areas of our legal system - property, torts and accidents, contract, and crime - as well as litigation. The handbook is full of examples and is highly accessible, since no background in either law or economics is assumed and it's free of jargon, graphs, and technical material

Economic Analysis of Law

Author: Richard A. Posner
Publisher: Wolters Kluwer Law & Business
ISBN: 1454845538
Format: PDF, Kindle
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Lucid, comprehensive, and definitive in its field, this text covers every aspect of economic analysis of the law. Features: Two new chapters, one on intellectual property, one on international and comparative law, both exploding fields of great importance. Earlier editions' questions have been converted to answers, making the book more accessible and informative. Revised to be clearer and less technical. More eclectic, reflecting recent criticisms of "rational choice" theory, in particular the need to supplement it with insights from psychology. Greater attention paid to judicial behavior, realistically modeled and explained in economic terms. Incorporates insights from the veritable explosion of books and articles published in the last few years on economic analysis of law.

Efficiency Instead of Justice

Author: Klaus Mathis
Publisher: Springer Science & Business Media
ISBN: 1402097980
Format: PDF, ePub
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Economic analysis of law is an interesting and challenging attempt to employ the concepts and reasoning methods of modern economic theory so as to gain a deeper understanding of legal problems. According to Richard A. Posner it is the role of the law to encourage market competition and, where the market fails because transaction costs are too high, to simulate the result of competitive markets. This would maximize economic efficiency and social wealth. In this work, the lawyer and economist Klaus Mathis critically appraises Posner’s normative justification of the efficiency paradigm from the perspective of the philosophy of law. Posner acknowledges the influences of Adam Smith and Jeremy Bentham, whom he views as the founders of normative economics. He subscribes to Smith’s faith in the market as an ideal allocation model, and to Bentham’s ethical consequentialism. Finally, aligning himself with John Rawls’s contract theory, he seeks to legitimize his concept of wealth maximization with a consensus theory approach. In his interdisciplinary study, the author points out the possibilities as well as the limits of economic analysis of law. It provides a method of analysing the law which, while very helpful, is also rather specific. The efficiency arguments therefore need to be incorporated into a process for resolving value conflicts. In a democracy this must take place within the political decision-making process. In this clearly written work, Klaus Mathis succeeds in making even non-economists more aware of the economic aspects of the law.

Economic Foundations of Law and Organization

Author: Donald Wittman
Publisher: Cambridge University Press
ISBN: 0521859174
Format: PDF, Kindle
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This book serves as a compact introduction to the economic analysis of law and organization. At the same time it covers a broad spectrum of issues. It is aimed at undergraduate economics students who are interested in law and organization, law students who want to know the economic basis for the law, and students in business and public policy schools who want to understand the economic approach to law and organization. The book covers such diverse topics as bankruptcy rules, corporate law, sports rules, the organization of Congress, federalism, intellectual property, crime, accident law, and insurance. Unlike other texts on the economic analysis of law, this text is not organized by legal categories but by economic theory. The purpose of the book is to develop economic intuition and theory to a sufficient degree so that one can apply the ideas to a variety of areas in law and organization.

Economic Foundations of Law Second Edition

Author: Stephen Spurr
Publisher: Routledge
ISBN: 1136937625
Format: PDF, Mobi
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Economic Foundations of Law (2nd ed.) provides an economic analysis of the major areas of the law: property law, torts, contracts, criminal law, civil procedure, corporation law and financial markets, taxation and labor law. In line with current trends in legal scholarship, discussion is focused on economic principles such as risk aversion, efficiency, opportunity cost, moral hazard, rent-seeking behaviour and economies of scale. Accessible, comprehensive and well written, this book uses extensive practical examples and explanations to illustrate key points. There are numerous applications to lawyers and the legal profession, with detailed discussions of subjects as diverse as the proposed market for transplantable human organs, the market for adoptions, the market for bail bonds, the unanticipated effects of Megan’s law, and issues of racial profiling. Fully updated and revised, a new chapter on labor law has also been included.

Economic Foundations of International Law

Author: Eric A. Posner
Publisher: Harvard University Press
ISBN: 0674067630
Format: PDF
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Exchange of goods and ideas among nations, cross-border pollution, global warming, and international crime pose formidable questions for international law. Two respected scholars provide an intellectual framework for assessing these problems from a rational choice perspective and describe conditions under which international law succeeds or fails.

The Foundations of Behavioral Economic Analysis

Author: Sanjit Dhami
Publisher: Oxford University Press
ISBN: 0191087335
Format: PDF, ePub, Docs
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This is the first definitive introduction to behavioral economics aimed at advanced undergraduate and postgraduate students. Authoritative, cutting edge, yet accessible, it guides the reader through theory and evidence, providing engaging and relevant applications throughout. It is divided into nine parts and 24 chapters: Part I is on behavioral economics of risk, uncertainty, and ambiguity. The evidence against expected utility theory is examined, and the behavioral response is outlined; the best empirically supported theory is prospect theory. Part II considers other-regarding preferences. The evidence from experimental games on human sociality is given, followed by models and applications of inequity aversion, intentions based reciprocity, conditional cooperation, human virtues, and social identity. Part III is on time discounting. It considers the evidence against the exponential discounted utility model and describes several behavioral models such as hyperbolic discounting, attribute based models and the reference time theory. Part IV describes the evidence on classical game theory and considers several models of behavioral game theory, including level-k and cognitive hierarchy models, quantal response equilibrium, and psychological game theory. Part V considers behavioral models of learning that include evolutionary game theory, classical models of learning, experience weighted attraction model, learning direction theory, and stochastic social dynamics. Part VI studies the role of emotions; among other topics it considers projection bias, temptation preferences, happiness economics, and interaction between emotions and cognition. Part VII considers bounded rationality. The three main topics considered are judgment heuristics and biases, mental accounting, and behavioral finance. Part VIII considers behavioral welfare economics; the main topics are soft paternalism, and choice-based measures of welfare. Finally, Part IX gives an abbreviated taster course in neuroeconomics.

Fundamental Principles of Law and Economics

Author: Alan Devlin
Publisher: Routledge
ISBN: 1317616499
Format: PDF, ePub, Mobi
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This textbook places the relationship between law and economics in its international context, explaining the fundamentals of this increasingly important area of teaching and research in an accessible and straightforward manner. In presenting the subject, Alan Devlin draws on the neoclassical tradition of economic analysis of law while also showcasing cutting- edge developments, such as the rise of behavioural economic theories of law. Key features of this innovative book include: case law, directives, regulations, and statistics from EU, UK, and US jurisdictions are presented clearly and contextualised for law students, showing how law and economics theory can be understood in practice; succinct end- of-chapter summaries highlight the essential points in each chapter to focus student learning; further reading is provided at the end of each chapter to guide independent research. Making use of tables and diagrams throughout to facilitate understanding, this text provides a comprehensive overview of law-and-economics that is ideal for those new to the subject and for use as a course text for law-and-economics modules.