The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Law, Economic Analysis of

  • A. Mitchell Polinsky
  • Steven Shavell
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_2440

Abstract

This article surveys the economic analysis of five primary fields of law: property law; liability for accidents; contract law; litigation; and public enforcement and criminal law. It also briefly considers some criticisms of the economic analysis of law.

Keywords

Adverse possession Asymmetric information Becker, G. Bentham, J. Bona fide purchase rule Coase, R. Collective action Compensated takings Contract formation Contractual interpretation Copyright Corrective tax Criminal law Damage measures Demsetz, H. Deterrence Direct regulation Disclosure of information Due care Eminent domain Expectation measure of damages Fairness Fault-based liability Finders-keepers rule Fines First-party insurance Good title Hold-out problem Imprisonment Incapacitation Incomplete contracts Injunction Justice Labels Land registries Law and economics Liability Liability insurance Litigation Moral hazard Negligence rule Original ownership rule Patents Posner, R. Possessory rights Product liability Property rights Public enforcement of law Public property Punishment Risk Risk aversion Risk-bearing Settlement vs trial Social norms Social welfare Specific performance Strict liability Suit Takings Tort law Trade secret law Trademarks Unilateral accident model Utilitarianism 

JEL Classifications

D02 D23 D63 H23 J28 K11 K12 K13 K14 K32 K41 K42 P14 P48 
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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • A. Mitchell Polinsky
    • 1
  • Steven Shavell
    • 1
  1. 1.