Shavell's Economic Analysis of Law

By Steven M. Shavell

ISBN-13: 9781587788154

Availability: In Stock

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Series: University Casebook Series

Brand: Foundation Press

Pages: 127

Components: 1 Print

Free Update Period: 90 days

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Description

This introduction to the 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 on litigation. It provides numerous examples and is a useful resource for a variety of readers, since it assumes no background in either law or economics.

Features

Summary Of Contents

Chapter
1. Introduction
  1. The Economic Approach
  2. What Distinguishes Economic from Other Analysis of Law?
  3. History of the Economic Approach
2. Property Law
  1. Definition of Property Rights
  2. Justifications for Property Rights
  3. Emergence of Property Rights
  4. Division of Property Rights
  5. Acquisition and Transfer of Property
  6. Conflicts in the Use of Property: Externalities
  7. Public Goods
  8. Acquisition of Public Property
  9. Property Rights in Information
3. Torts
  1. Unilateral Accidents and Levels of Care
  2. Bilateral Accidents and Levels of Care
  3. Unilateral Accidents, Levels of Care, and Levels of Activity
  4. Accidents Involving Firms as Injurers
  5. Risk Aversion, Insurance, and Liability
  6. Liability and Administrative Costs
  7. Economic Analysis of Tort Law versus Traditional Analysis
4. Contracts
  1. Definitions and Framework of Analysis
  2. Contract Formation
  3. Incompleteness of Contract
  4. Interpretation of Contracts
  5. Damage Measures for Breach of Contract
  6. Specific Performance
  7. Renegotiation
  8. Legal Overriding of Contracts
  9. Extralegal Means of Enforcement
5. Civil Litigation
  1. Bringing of Suit
  2. Settlement versus Trial
  3. Trial
6. Public Law Enforcement and Criminal Law
  1. Basic Framework
  2. Enforcement Given the Probability of Detection
  3. Enforcement When the Probability of Detection Is Variable
  4. Monetary Sanctions versus Imprisonment
  5. Incapacitation
  6. Criminal Law
7. Welfare Economic
  1. Framework of Welfare Economics
  2. Distributional Objectives Should Not Affect Legal Policy, Given Income Taxation
  3. Normative Analysis Based on Notions of Fairness (Apart from the Purely Distributional)
  4. Remarks
8. Criticism of Economic Analysis of Law
  1. Inability to Predict Human Behavior and Irrationality
  2. Indeterminacy of Recommendations
  3. Political Bias
9. Suggestions for Further Reading
Index