Law and Economics

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ISBN:

9780198067733

Publication date:

20/10/2010

Hardback

340 pages

We sell our titles through other companies
Disclaimer :You will be redirected to a third party website.The sole responsibility of supplies, condition of the product, availability of stock, date of delivery, mode of payment will be as promised by the said third party only. Prices and specifications may vary from the OUP India site.

ISBN:

9780198067733

Publication date:

20/10/2010

Hardback

340 pages

Satish K. Jain

Suitable for: This collection of essays will interest policymakers and professionals, students, and researchers working in the areas of law and economics, jurisprudence, political science, and philosophy.

Rights:  World Rights

Satish K. Jain

Description

Economic analysis of law, an area of intensive research for quite some time, has shown that a large part of law, particularly common law, is economically efficient. That is to say, most of law is such that it induces persons involved in interactions to act in ways which result in minimization of social costs of interaction. The results obtained by economists establishing efficiency characteristic of legal rules, standards, and procedures raise many important and difficult questions of interpretation. Is it the case that economic efficiency provides a unified explanation for law? Are efficiency and justice closely related values? Or is it the case that justice is merely another name for efficiency as has been claimed by some law and economics scholars? The readings of this collection introduce the reader to the method economists employ in analyzing law, the main results of law and economics literature establishing efficiency of judge-made law, and the divergent views pertaining to the interpretation of these results. The volume also contains discussion of possible conflict between the goal of economic efficiency on the one hand and the ideals of basic rights, democracy and the rule of law on the other.

Satish K. Jain

Satish K. Jain

Satish K. Jain

Satish K. Jain

Description

Economic analysis of law, an area of intensive research for quite some time, has shown that a large part of law, particularly common law, is economically efficient. That is to say, most of law is such that it induces persons involved in interactions to act in ways which result in minimization of social costs of interaction. The results obtained by economists establishing efficiency characteristic of legal rules, standards, and procedures raise many important and difficult questions of interpretation. Is it the case that economic efficiency provides a unified explanation for law? Are efficiency and justice closely related values? Or is it the case that justice is merely another name for efficiency as has been claimed by some law and economics scholars? The readings of this collection introduce the reader to the method economists employ in analyzing law, the main results of law and economics literature establishing efficiency of judge-made law, and the divergent views pertaining to the interpretation of these results. The volume also contains discussion of possible conflict between the goal of economic efficiency on the one hand and the ideals of basic rights, democracy and the rule of law on the other.

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