Foundations of Economic Analysis of Law

The book will be a great source both for neophytes who want to learn about this important area, and for experts who want to make sure that they are up-to-date on the latest developments. Oliver Hart, Department of Economics, Harvard University Law and Economics is one of the great intellectual triumphs of social science. Shavell's book offers a compelling account of the accomplishments and challenges of the field at the beginning of the 21st century.

Not only has he collected the insights from this large body of work under one roof here, he has added to it both by integrating it into a coherent whole, and by filling in numerous gaps in the literature. For someone interested in getting to the cutting edge of law-and-economics scholarship as quickly as possible, this book is a "must read. Mitchell Polinsky, Stanford Law School This book proposes an overview of the fields in the economics of law to which the author has contributed.

It also covers in detail other fields and many contributions to the literature. The emphasis is on theory, but some empirical facts are mentioned I very much enjoyed reading the book. It covers with great competence the relevant topics of positive and normative analyses of law.

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The book reflects the strong academic competence of the author. I recommend the book to academics and professionals. I also recommend its use for teaching the economics of law in law schools, economics departments, and business schools. Dionne Georges Journal of Risk and Insurance Would you like to tell us about a lower price? If you are a seller for this product, would you like to suggest updates through seller support? Read more Read less.

Add both to Cart Add both to List. One of these items ships sooner than the other. Buy the selected items together This item: Ships from and sold by Amazon. Customers who bought this item also bought. Page 1 of 1 Start over Page 1 of 1. The Art of Advocacy: Here's how restrictions apply. Review For the past 30 years, Steven Shavell has been one of the prolific and influential contributors to the economic analysis of law, the foremost intellectual movement in law in the last half century.

Steven Shavell is Samuel R. Don't have a Kindle? Try the Kindle edition and experience these great reading features: Share your thoughts with other customers. Write a customer review. See all customer images. Showing of 11 reviews. Top Reviews Most recent Top Reviews. There was a problem filtering reviews right now. Please try again later. I recived a damaged book as the pictures proves. This book is a must buy for anyone who is interested in the intersection of law and economics.

Foundations of Economic Analysis of Law

Steven Shavell is a pioneer in the area, and that can be seen in every chapter in the book. The book is non technical, however footnotes contain various economical modeling insights. The book certainly made me see the world differently now. There is something to be said for compiling a work such as this which covers a wide array of subject matter. The problem with Foundations is not the ambition shown in tackling various topics, but the depth of the analysis he produces.

It contains more normative propaganda than thoughtful analysis. Many of the theoretical examples include numerous "if" statements, but he frequently fails to help the reader consider the outcomes if one or more of the assumptions are relaxed.

Economic Analysis of Law - Semantic Scholar

In other examples he altogether ignores opportunity cost - one of the most fundamental concepts in economic analysis. At other times he labels his opinions as facts so as to give his preferred policy prescriptions more weight than they deserve. This all adds up to a systematic pro-State, anti-market bias in assumptions, examples and analysis.

Shavell masterfully does all this in a manner so subtle that it goes unnoticed by most readers. I'm giving the book 1 star not because it is poorly written, but because it is a normative dissertation posing as positive analysis. Kindle Edition Verified Purchase.

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Quite dense reading, though. For beginners, go to Polinsky's. One of the best works ever written in economic analysis of law.

A must-have for any lawyer! This is a superb introduction to Law and Economics, focusing on the standard first-year law classes: Although it contains some complex ideas and some startling insights see, e. Each topic is analyzed in Prof. Shavell's careful, painstaking style. Models -- simple ones first, then their more sophisticated brethren -- are defined, described in detail, and illustrated with many numerical examples. Basic Theory of Litigation Extensions of the Basic Theory Public Law Enforcement and Criminal Law Deterrence with Monetary Sanctions Deterrence with Nonmonetary Sanctions Extensions of the Theory of Deterrence Incapacitation, Rehabilitation, and Retribution Criminal Law Part VI.

General Structure of the Law Welfare Economics, Morality, and the Law Welfare Economics and Morality Implications for the Analysis of Law Income Distributional Equity and the Law The politics of compassion Ala Sirriyeh Inbunden.

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What effects do laws have? Do individuals drive more cautiously, clear ice from sidewalks more diligently, and commit fewer crimes because of the threat of legal sanctions? Do corporations pollute less, market safer products, and obey contracts to avoid suit? And given the effects of laws, which are socially best? Such questions about the influence and desirability of laws have been investigated by legal scholars and economists in a new, rigorous, and systematic manner since the s.

Their approach, which is called economic, is widely considered to be intellectually compelling and to have revolutionized thinking about the law. In this book Steven Shavell provides an in-depth analysis and synthesis of the economic approach to the building blocks of our legal system, namely, property law, tort law, contract law, and criminal law. He also examines the litigation process as well as welfare economics and morality.