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Handbook of Law and Economics

  • 1st Edition, Volume 1 - November 7, 2007
  • Editors: A. Mitchell Polinsky, Steven Shavell
  • Language: English
  • Hardback ISBN:
    9 7 8 - 0 - 4 4 4 - 5 1 2 3 5 - 2
  • eBook ISBN:
    9 7 8 - 0 - 0 8 - 0 5 5 4 2 4 - 2

Law can be viewed as a body of rules and legal sanctions that channel behavior in socially desirable directions — for example, by encouraging individuals to take proper precautions… Read more

Handbook of Law and Economics

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Law can be viewed as a body of rules and legal sanctions that channel behavior in socially desirable directions — for example, by encouraging individuals to take proper precautions to prevent accidents or by discouraging competitors from colluding to raise prices. The incentives created by the legal system are thus a natural subject of study by economists. Moreover, given the importance of law to the welfare of societies, the economic analysis of law merits prominent treatment as a subdiscipline of economics. Our hope is that this two volume Handbook will foster the study of the legal system by economists.