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Issues in Law and Economics

Author: Harold Winter

Publisher: University of Chicago Press

Published: 2017-01-27

Total Pages: 248

ISBN-13: 022624976X

Is file-sharing destroying the music industry? Should the courts encourage breach of contract? Does the threat of malpractice lawsuits cause doctors to provide too much medical care? Do judges discriminate when sentencing? With Issues in Law and Economics, Harold Winter takes readers through these and other recent and controversial questions. In an accessible and engaging manner, Winter shows these legal issues can be reexamined through the use of economic analysis. Using real-world cases to highlight issues, Winter offers step-by-step analysis, guiding readers through the identification of the trade-offs involved in each issue and assessing the economic evidence from scholarly research before exploring how this research may be used to guide policy recommendations. The book is divided into four sections, covering the basic practice areas of property, contracts, torts, and crime, with a fifth section devoted to a concise introduction to the topic of behavioral law and economics. Each chapter concludes with a series of thought-provoking discussion questions that provide readers the opportunity to further explore important ideas and concepts.

Contemporary Issues in Law and Economics

Author: Thomas J. Miceli

Publisher: Routledge

Published: 2018-03-08

Total Pages: 280

ISBN-13: 1351596705

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Law and economics is the field of study devoted to understanding laws and legal institutions using the tools of economic theory. This growing subject has become a mainstream area of study in both law schools and economics departments and this book explores the "law and economics" approach to some of the most interesting questions, issues, and topics in law, order, and justice. Contemporary Issues in Law and Economics considers what economists call the "positive" analysis of the law – that is, using economic theory to explain the nature of the law as it actually exists. As part of this approach the author examines questions such as, what is the economic basis for the predominance of negligence rules in tort law? And, what is the explanation for the illegality of blackmail? Furthermore, another set of questions arises where the law seems to depart from the prescriptions of economic theory, and these issues are also examined in this volume. For example, the deeply rooted norm of proportionality between punishments and crimes, and the use of escalating penalties for repeat offenders, are both explored. With self-contained chapters written in a non-technical style, this book offers a rigorous discussion of the above themes while remaining accessible to those without formal legal or economic training. It offers the ideal introduction to the field of law and economics while also providing a basis for students in more advanced courses.

Law and Economics

Author: Margaret Oppenheimer

Publisher: Routledge

Published: 2015-06-01

Total Pages: 476

ISBN-13: 131746642X

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The economic analysis of legal and regulatory issues need not be limited to the neoclassical economic approach. The expert contributors to this work employ a variety of heterodox legal-economic theories to address a broad range of legal issues. They demonstrate how these various approaches can lead to very different conclusions concerning the role of the law and legal intervention in a wide array of contexts. The schools of thought and methodologies represented here include institutional economics, new institutional economics, socio-economics, social economics, behavioral economics, game theory, feminist economics, Rawlsian economics, radical economics, Austrian economics, and personalist economics. The legal and regulatory issues examined include anti-trust and competition, corporate governance, the environment and natural resources, land use and property rights, unions and collective bargaining, welfare benefits, work-time regulation and standards, sexual harassment in the workplace, obligations of employers and employees to each other, crime, torts, and even the structure of government. Each contributor brings a different emphasis and provides thoughtful, sometimes provocative analysis and conclusions. Together, these heterodox insights will provide valuable supplementary reading for courses in law and economics as well as public policy and business courses at both the graduate and undergraduate levels.

Recognizing Wrongs

Author: John C. P. Goldberg

Publisher: Harvard University Press

Published: 2020-02-04

Total Pages: 393

ISBN-13: 0674246527

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Two preeminent legal scholars explain what tort law is all about and why it matters, and describe their own view of tort’s philosophical basis: civil recourse theory. Tort law is badly misunderstood. In the popular imagination, it is “Robin Hood” law. Law professors, meanwhile, mostly dismiss it as an archaic, inefficient way to compensate victims and incentivize safety precautions. In Recognizing Wrongs, John Goldberg and Benjamin Zipursky explain the distinctive and important role that tort law plays in our legal system: it defines injurious wrongs and provides victims with the power to respond to those wrongs civilly. Tort law rests on a basic and powerful ideal: a person who has been mistreated by another in a manner that the law forbids is entitled to an avenue of civil recourse against the wrongdoer. Through tort law, government fulfills its political obligation to provide this law of wrongs and redress. In Recognizing Wrongs, Goldberg and Zipursky systematically explain how their “civil recourse” conception makes sense of tort doctrine and captures the ways in which the law of torts contributes to the maintenance of a just polity. Recognizing Wrongs aims to unseat both the leading philosophical theory of tort law—corrective justice theory—and the approaches favored by the law-and-economics movement. It also sheds new light on central figures of American jurisprudence, including former Supreme Court Justices Oliver Wendell Holmes, Jr., and Benjamin Cardozo. In the process, it addresses hotly contested contemporary issues in the law of damages, defamation, malpractice, mass torts, and products liability.

International Economic Law and the Challenges of the Free Zones

Author: Julien Chaisse

Publisher: Kluwer Law International B.V.

Published: 2019-05-02

Total Pages: 360

ISBN-13: 9403509007

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Special economic zones (SEZs) have become a permanent feature of the world trade scene. This book, the first to provide a critical and comprehensive analysis of SEZs covering a wide spectrum of countries and regions, shows how SEZs, albeit established at the domestic level by different countries, raise multiple legal issues under international economic law. This first-rate book is the product of the Asia FDI Forum IV held in Hong Kong in 2018. Thoroughly exploring the development of the SEZ phenomenon and its players, the contributing authors (all leading economic law experts) review the issues raised by SEZs in the context of international trade law, international investment law and investment arbitration. They identify the extent to which SEZs have been coherent in their design and policymaking, in particular with regard to domestic law reforms. They address such aspects (both core themes and specific examples) as the following: investment protection in China’s SEZs; state-owned enterprises regulation; dispute settlement; under what circumstances incentives available in SEZs count as export subsidies prohibited under World Trade Organization (WTO) rules; compliance with internal market rules in European Union (EU) free zones; local populations as victims of land expropriation; Brazil’s Manaus Free Trade Zone; India’s experience with multiple SEZs; the administrative approval system in the Shanghai Free Trade Zone; economic corridors and transit routes as SEZs; ‘refugee cities’: SEZs for migrants; how China’s Supreme People’s Court serves national strategy; how foreign investors challenge free-zone regimes; impacts of the establishment of SEZs on tax revenues; SEZs and labour migration; and management models. The chapters also include insights into the new emerging generation of international investment agreements; WTO accession, transparency, and case law materials clarifying specific trade issues associated with SEZs; and new rules to protect the environment and labour rights, as well as analysis of crucially significant cases such as Goetz v. The Republic of Burundi, Lee Jong Baek v. Kyrgyzstan and Ampal-American and Others v. Egypt. With its critical and comprehensive analysis of the dynamic SEZ phenomenon across legal, economic, investment, regulatory and policy matrices – including a thorough analysis of the success factors and required policies for SEZs – this book takes a giant step towards answering the question whether SEZs fundamentally contradict norms of international law or whether SEZs have to be considered as laboratories which facilitate the implementation of international economic policies. Its careful examination of theory and practice and its approach to lessons learned from case studies will reward trade and investment officials, policymakers, diplomats, economists, lawyers, think tanks, business leaders and others interested in this ever more important area of law and economics.

An Introduction to Law and Economics

Author: A. Mitchell Polinsky

Publisher: Aspen Publishing

Published: 2018-07-23

Total Pages: 248

ISBN-13: 1543802885

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Distinguished by brevity, lucid writing, and well-chosen examples, An Introduction to Law and Economics, now in its Fifth Edition, focuses on a set of core topics that include property, contracts, torts, criminal law, and litigation. Avoiding specialized jargon and mathematics, Polinsky teaches students how to think like an economist and understand legal issues from an economic perspective. New to the Fifth Edition: A streamlining of the products liability chapter A revised discussion of the redistributive effects of legal rules to reflect more recent scholarship on this topic The addition of several other refinements in the text and in new footnotes An updated bibliography Professors and students will benefit from: Solid coverage of relevant economic principles A normative approach that illustrates how to assess legal rules and policies in terms of economic and social goals Clear explanations of concepts

Law and Economics

Author: Aristides N. Hatzis

Publisher: Routledge

Published: 2015-02-11

Total Pages: 374

ISBN-13: 1317550323

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The Law and Economics approach to law dominates the intellectual discussion of nearly every doctrinal area of law in the United States and its influence is growing steadily throughout Europe, Asia, and South America. Numerous academics and practitioners are working in the field with a flow of uninterrupted scholarship that is unprecedented, as is its influence on the law. Academically every major law school in the United States has a Law and Economics program and the emergence of similar programs on other continents continues to accelerate. Despite its phenomenal growth, the area is also the target of an ongoing critique by lawyers, philosophers, psychologists, social scientists, even economists since the late 1970s. While the critique did not seem to impede the development of the field, it certainly has helped it to become more sophisticated, inclusive, and mature. In this volume some of the leading scholars working in the field, as well as a number of those critical of Law and Economics, discuss the foundational issues from various perspectives: philosophical, moral, epistemological, methodological, psychological, political, legal, and social. The philosophical and methodological assumptions of the economic analysis of law are criticized and defended, alternatives are proposed, old and new applications are discussed. The book is ideal for a main or supplementary textbook in courses and seminars on legal theory, philosophy of law, jurisprudence, and (of course) Law and Economics.

The Future of Law and Economics

Author: Guido Calabresi

Publisher: Yale University Press

Published: 2016-01-28

Total Pages: 248

ISBN-13: 0300216262

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In a concise, compelling argument, one of the founders and most influential advocates of the law and economics movement divides the subject into two separate areas, which he identifies with Jeremy Bentham and John Stuart Mill. The first, Benthamite, strain, “economic analysis of law,” examines the legal system in the light of economic theory and shows how economics might render law more effective. The second strain, law and economics, gives equal status to law, and explores how the more realistic, less theoretical discipline of law can lead to improvements in economic theory. It is the latter approach that Judge Calabresi advocates, in a series of eloquent, thoughtful essays that will appeal to students and scholars alike.

New Developments in Competition Law and Economics

Author: Klaus Mathis

Publisher: Springer

Published: 2019-03-18

Total Pages: 358

ISBN-13: 3030116115

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This book further develops both the traditional and the behavioural approach to competition law, and applies these approaches to a variety of timely issues. It discusses several fundamental questions regarding competition law and economics, and explores the applications of competition law and economics. In turn, the book analyses the interplay of intellectual property rights and patents in various aspects of competition law, and investigates the impacts that developments in information technology, such as big data analytics, have on competition law. The book also discusses the impact of energy law reforms on energy markets from a competition law perspective. Competition law is a classic field of economic analysis. This is largely due to the fact that competition law uses terms such as market, price, and competition and must therefore rely on economic know-how and analyses. In the United States, economic analysis has greatly influenced not just the scholarship on antitrust law, but also judicial decisions and agency enforcement. Antitrust law and economics are based on the traditional paradigm of neoclassical economics, which relies on the assumption that the market players, i.e. consumers and producers, are rational. This approach to competition law was later received in Europe under the banner of a “more economic approach”. For the past two decades, behavioural law and economics, which seeks to generate better insights into legal phenomena by providing more realistic psychological foundations for economic models, and to offer a multitude of applications in legislation and legal adjudication, has challenged the traditional economic approach to law in general and, more recently, to competition law specifically.

Consumer Law and Economics

Author: Klaus Mathis

Publisher: Springer Nature

Published: 2020-08-31

Total Pages: 326

ISBN-13: 3030490289

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This edited volume covers the challenges currently faced by consumer law in Europe and the United States, ranging from fundamental theoretical questions, such as what goals consumer law should pursue, to practical questions raised by disclosure requirements, the General Data Protection Regulation and technology advancements. With governments around the world enacting powerful new regulations concerning consumers, consumer law has become an important topic in the economic analysis of law. Intended to protect consumers, these regulations typically seek to do so by giving them tools to make better decisions, or by limiting the consequences of their bad decisions. Legal scholars are divided, however, regarding the efficacy and effects of these regulations; some call for certain policies to be abolished, while others support a regulatory expansion.