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